GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
2-min read

Ready to Undertake Projects of Amrapali Group, NBCC tells SC

A bench of justices Arun Mishra and UU Lalit asked the NBCC to place a concrete proposal before it within 30 days on how they could complete the projects of the Amrapali group.

PTI

Updated:August 2, 2018, 5:53 PM IST
facebookTwittergoogleskypewhatsapp
Ready to Undertake Projects of Amrapali Group, NBCC tells SC
National Buildings Construction Corporation told the SC that it was ready to undertake the projects of Amrapali group. (File photo)
Loading...
New Delhi: The National Buildings Construction Corporation (NBCC) told the Supreme Court on Thursday that it was ready to undertake the projects of embattled realtor Amrapali group of companies.

A bench of justices Arun Mishra and U U Lalit asked the NBCC to place a concrete proposal before it within 30 days on how they could complete the projects of the Amrapali group.

The court also recalled its earlier order directing the group to deposit Rs 250 crore, while noting that its direction was yet to be complied with.

The bench, while allowing the recall application filed by the group, said its conduct was "wholly unfair" and "absolutely improper".

The bench also took note of the alleged diversion of Rs 2,765 crore by the Amrapali group and asked the auditor to submit a report on this.

The apex court directed its registry to intimate the banks about its order, freezing all the bank accounts of the Amrapali group of companies.

The top court had yesterday(Wednesday) cracked the whip on the Amrapali group for playing "fraud" and "dirty games" with the court and ordered attachment of all the bank accounts and movable properties of 40 firms of the real estate major.

It had directed the Amrapali group, which was yet to hand over possession of flats to around 42,000 hassled home buyers, to place before it the details of all of its bank accounts from 2008 till today and ordered freezing of bank accounts of all the directors of its 40 firms, besides attaching their personal properties.

The bench had yesterday taken umbrage as to how the NBCC had issued advertisements inviting co-developers for doing the work related to the Amrapali group without taking the apex court's approval.

The court was earlier told that a high-level committee was formed by the Uttar Pradesh government under the chairmanship of the secretary of Ministry of Housing and Urban Affairs to redress the issues of home-buyers and affected parties of incomplete or stalled housing projects at Noida, Greater Noida and the Yamuna Expressway.

The group had said it was in talks with the Centre for the construction of its pending, unsold and future projects by the NBCC and had already submitted a proposal in this regard.

It had earlier told the court in an affidavit that it was not in a position to complete the projects and hand over the possession of flats to over 42,000 home buyers in a time-bound manner.

Also Watch

Read full article
Loading...
Most Active
Company Price Change %Gain
Sun Pharma 623.50 +3.80 +0.61
Axis Bank 627.30 +3.85 +0.62
ICICI Bank 340.00 +5.70 +1.71
ITC 313.75 +6.30 +2.05
SBI 302.10 +9.40 +3.21
Company Price Change %Gain
RITES 310.00 +25.15 +8.83
Sun Pharma 623.30 +3.70 +0.60
Axis Bank 627.10 +3.25 +0.52
SBI 302.00 +9.30 +3.18
Tata Steel 580.60 +12.50 +2.20
Top Gainers
Company Price Change %Gain
Grasim 1,045.85 +46.40 +4.64
Yes Bank 393.20 +14.75 +3.90
Lupin 881.25 +31.50 +3.71
SBI 302.10 +9.40 +3.21
Vedanta 215.20 +6.40 +3.07
Company Price Change %Gain
Yes Bank 392.95 +14.25 +3.76
SBI 302.00 +9.30 +3.18
Vedanta 215.00 +6.45 +3.09
HUL 1,780.80 +45.60 +2.63
Tata Motors 257.35 +6.20 +2.47
Top Losers
Company Price Change %Gain
GAIL 387.70 -6.10 -1.55
Hero Motocorp 3,242.30 -40.35 -1.23
Eicher Motors 28,476.15 -327.70 -1.14
ONGC 163.05 -1.40 -0.85
Maruti Suzuki 9,152.10 -48.45 -0.53
Company Price Change %Gain
Hero Motocorp 3,248.60 -37.50 -1.14
ONGC 163.10 -1.00 -0.61
Maruti Suzuki 9,148.30 -53.65 -0.58
Coal India 281.20 -1.25 -0.44
HDFC 1,883.60 -7.30 -0.39
Loading...
Loading...