The Supreme Court came down heavily on the Amrapali Group on Wednesday (5 December), ordering the attachment of the group’s hotel, cinema hall, mall and a fleet of luxury of cars, Business Standard has reported. The court lambasted the company for being the ‘worst kind of cheater’ and a ‘first degree liar’.
As per the apex court’s directions, the Debt Recovery Tribunal (DRT) in Delhi will be attaching and auctioning off the company’s Noida and Greater Noida corporate offices.
The bench comprising Justices Arun Mishra and U U Lalit has given an ultimatum to Amrapali’s directors and their families to reimburse Rs 3,000 crores of home-buyers’ money by 10 December 2018.
Notices have been issued against group chairman and managing director Anil Sharma, chief financial officer and statutory auditor Anil Mittal and the directors of the company to give reasons why they should not be charged with criminal breach of trust.
"You are a perfect liar. You are a first degree liar. You have not given specific information what we have asked for in our earlier orders. We are not satisfied with your affidavit and you have only tried to manipulate things. Despite our nine orders, you have not given specific information about business transactions for period 2015-18," the bench noted.
The court had also lashed out the company as a ‘worst kind of cheater’ after the latter asked to be allowed to sell nursery schools and other residential facilities to raise money.
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