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‘You Committed First Degree Crime’: SC Lambastes Amrapali Group For Cheating Home Buyers And Authorities
An under construction Amrapali Group building from 2011. (Photo by Pradeep Gaur/Mint via Getty Images)
Lambasting the Amrapali Group, the Supreme Court (SC) said on Wednesday (1 May 2019) that the group had committed a 'first degree crime' by cheating thousands of home buyers and that powerful people behind the mess will be booked and prosecuted irrespective of their clout, and no one will be spared, reports Mint.
The bench of Justices Arun Mishra and U U Lalit declined to hear their claims of no wrongdoing and decreed that the real estate firm had cheated everybody including home buyers, banks and authorities. The court also added that the limit of fraud had touched the sky.
Senior advocates Geeta Luthra and Gaurav Bhatia, appearing for the group, pleaded that no wrongdoing had been done on their part and that there was no diversion of Rs 3,500 crore as claimed by the court appointed forensic auditors.
"We have to believe the forensic auditors and their report looking at your dubious conduct. We believe them. You (Amrapali) have yourself admitted in your earlier affidavit that Rs 2,990 crore of home buyers money was diverted and now you are claiming that there was no diversion. You have made a peon as your director and he purchases shares worth crores of rupees for Amrapali. Is this not correct," the bench said.
The top court also ordered attachment of personal properties of the CMD and directors - Shiv Priya and Ajay Kumar.
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