Supreme Court protects the interests of Amrapali home buyers by intervening in the Amrapali Project
On November 22, the Supreme Court ordered to set up a portal for the amrapali home buyers of flats in real estate of the Amrapali projects. The setting up of the portal is directed to enable the buyers claim their refunds.
The Supreme Court stepped in to protect the interests of buyers as Amrapali failed to give them possession of flats. Most of the buyers have made the payments but didn’t receive ownership. The Supreme Court also directed the non-institutional directors to appear before the court for presenting a road map to either deliver apartments or return money to the investors on January 17, 2018.
The bench included Chief Justice Dipak Misra, and Justices AM Khanwilkar and DY Chandrachud. Advocate Pawan Shree Agarwal was appointed as the amicus curiae and was asked to create a website for buyers.
“Pawan Shree Agarwal shall create the portal and inform the advocate-on-record for the developer. The advocate for the developer shall give a sum of Rs 5 lakh by way of bank draft to him so that he can meet the expenses. The directors, other than institutional directors of the developer company shall remain personally present before this court on the next date of hearing,” the bench said.
According to Senior advocate Ranjit Kumar, 90% flats of Amrapali Centurian Park are complete and ready for delivery in the first phase.
The order was passed on the basis of a petition filed by around 100 buyers. These buyers are found to have booked houses in the Amrapali Centurian Park-Low Rise project, Amrapali Centurian Park-Terrace Homes and Amrapali Centurian Park-Tropical Garden in Greater Noida.
The petition said, “Amrapali firms were found in serious breach of their obligation to deliver the flats within 36 months, which is by 2013, and in some cases it is 2016.” Amrapali Group had to build 5,000 flats in around 40 towers in a phased manner.
On October 6, the Supreme Court also restrained the directors of Amrapali Group from leaving the country without permission of the court.