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Amrapali case: List of homebuyers submitted to Supreme Court

Debt Recovery Tribunal puts out advertisements for auction of 20 Amrapali properties for the fourth time.

Vandana Ramnani @vandanaramnani1

A list of 6,000 homebuyers residing in Amrapali projects that are yet to be registered has been submitted to the Supreme Court as per its directions on August 30, sources told Moneycontrol.

On August 26, a bench headed by Justice Arun Mishra had asked homebuyers' counsel M L Lahoty to submit project-wise details of homebuyers currently residing in the projects for which registration is yet to take place.

On August 13, the apex court had ordered the Noida and Greater Noida authorities to commence registration of the flats and asked Lahoty to draw up a list so that process could begin.

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"The apex court simultaneously wanted a list of homebuyers whose registries have yet to take place. Flats have so far been handed over to 9000 buyers but only 6000 seem to have come forward to get their units registered. The flat buyer associations had been tasked with preparing the lists. The court receiver has also received a copy," said Kumar Mihir, advocate.

Flat registries should begin before the next date of hearing which is September 11 but verification is expected to take time, he said.

The apex court on August 13 had asked officials of Noida and Greater Noida authorities to start giving possession of flats to Amrapali homebuyers, warning that a delay would land them in jail.

On August 26, the bench had directed that the Noida and Greater Noida Authorities set up a nodal cell for issuing completion certificates to homebuyers.

It had ordered the authorities to depute one officer not below the rank of deputy manager to coordinate with the court receiver, senior advocate R Venkataramani, in dealing with the Amrapali matter and submit a list of persons to the court involved in drawing up names of homebuyers whose homes have to be registered.

Meanwhile, advertisements for auction of 20 Amrapali properties have been put out by Debt Recovery Tribunal again for the fourth time. The properties are valued at around Rs 7000 crore, sources said.

The cost of completing all the Amrapali projects is over Rs 8000 crore.

In January this year, a five-star hotel 'Amrapali Holiday Inn Tech Park' constructed in Greater Noida and prime land in Vrindavan in Uttar Pradesh were put up for auction by the DRT but no bidder had come forward to bid.

A bench of Justices Arun Mishra and U U Lalit had then said that it was earlier worried over undervaluation of the properties but strangely in the auction held on January 31, no bidders came to buy the prime properties.

"It seems there is a systematic effort that properties go unsold, as no bids have come forward in the auction. Involvement of unforeseen hands cannot be ruled out. Prime facie it appears that cartelisation is at work. Are the banks part of the cartel?", the bench had said then.

Around 40,000 homebuyers have been waiting for delivery of their homes, many of them for decades. The delays forced many of the buyers to move the court, which on July 23 asked the government-run National Buildings Construction Corporation (NBCC) to complete all projects of the Amrapali group that are in Delhi’s neighbourhood.

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First Published on Aug 30, 2019 07:42 pm
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