June 2019 \ News \ BUSINESS AND GOVERNANCE
SC to Amrapali: Ownership rights should be given to Noida and G. Noida authorities

In a big relief for Amrapali home buyers—numbering nearly 46,000 ...

                                                                      Left side Justice Arun Mishra and right side Justice U.U. Lalit
 

The top court noted the forensic auditors’ findings indicating that the Amrapali promoters and the directors did not invest in the projects. The court said the group cannot claim any right on the projects. “What is your (Amrapali) legal capacity to mortgage the properties to banks? Show the court one clause in the agreement that permits you to create a third party interest. How can you mortgage the construction done out of home buyers’ investment?” said the court.




Tags: Amrapali

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