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This Article is From Dec 05, 2018

Supreme Court Orders Amrapali's 5-Star Hotels, Malls, Office To Be Seized

Supreme Court Orders Amrapali's 5-Star Hotels, Malls, Office To Be Seized
The next hearing of Amrapali case is scheduled for 12 December.
  1. In Wednesday's ruling, the top court also asked the Debt Recovery Tribunal (DRT) to sell the seized properties. The court said the next hearing in the case would be on December 12.
  2. The court has already ordered seizure of the company's 100-bed multi-speciality hospital, bank accounts, the building which houses its office, certain firms and a benami villa in Goa.
  3. In its last hearing, the top court made it clear that the group was required to disclose "in clear terms" every activity involving transfer of money since 2008. It warned the developer to reveal by December 3 details of all its properties in the name of directors, their family members, relatives, chief financial officers and statutory auditors.
  4. The court also ordered Amrapali's chief financial officer Chander Wadhwa to deposit Rs. 11.69 crore with its registry.
  5. The court is seized of a batch of petitions filed by homebuyers who are seeking possession of around 42,000 flats booked in projects of the Amrapali group.
(With agency inputs)

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