"We want funds to come from where ever it is possible as we are under immense financial crunch to complete the stalled projects," the bench said and asked the NBCC to sell of 5,229 unsold flats of Amrapali Group. The top court, directed the two forensic auditors -Pawan Aggrawal and Ravi Bhatia - to complete the audit of two remaining projects, Heartbeat City and O2 Valley -of Amrapali Group, whose registration was scrapped by the apex court under the RERA Act, by September 30 to look into the irregularities committed by the group.Ī forensic audit is a detailed audit of a company's records to be used in a court of law. The court also issued notices to six banks-Bank of Baroda, Union Bank of India, Corporation Bank, Syndicate Bank, Bank of India and Bank of Maharashtra - and directed that remaining installments of home buyers can be released on account of their home loans/property loans. It directed that a separate account be opened at the UCO Bank branch at the apex court, where the homebuyers could deposit their outstanding amount. The bench said that after the court receiver validates the details of homebuyers on these websites, they will be put on notices to pay the outstanding amounts, which has been estimated by the forensic auditors to be around ₹3,600 crore. It said that the project wise name of the homebuyers, whose payments are due, will be uploaded on the websites of UCO bank, Noida and Greater Noida authorities and would be later validated by the senior advocate R Venkataramani. Be ready to deposit the outstanding amount". If you want the construction to come up, then homebuyers will have to pay the outstanding money. The bench retorted, "If you don't want to pay the money, then we will ask you to go home. "Till now nothing has been done on the ground and it would be unfair, if I am asked to pay the amount," Shobha said. A bench of Justices Arun Mishra and U U Lalit said, "If home buyers are not ready to pay their outstanding amount, then we will have to bundle up the projects".Īdvocate Shobha, appearing for a homebuyer, said that her project Amrapali Leisure Park falls under category-C, and as per the builder-buyer agreement the payment plan was linked to the construction.
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