Writing very clear on wall, SC’s final warning to Amrapali Group

| | New Delhi
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Writing very clear on wall, SC’s final warning to Amrapali Group

Wednesday, 21 November 2018 | PTI | New Delhi

"Writing is very clear on the wall", the Supreme Court warned the embattled real estate firm Amrapali Group on Tuesday over its repeated non-compliance and "hood-winking" of the court's order.

The top court asked the realty firm to reveal by December 3 the details of all its properties in the name of directors, their family members, relatives, Chief Financial Officers and statutory auditors in India and abroad. 

It gave one last opportunity to Amrapali Group and its directors and promoters to comply with each and every direction passed by the court since May last year.

A bench of Justices Arun Mishra and U U Lalit said that Amrapali Group will have to disclose each and every detail and activity including financial transactions by which home-buyers' money was transferred.

"We make it very clear that Amrapali Group should disclose each and every activity in clear terms it took since 2008 onwards related to the construction of residential, commercial, personal, official and financial where the money was transferred. If all the disclosures are not made by Amrapali Group and its directors then the writing is very clear on the wall," the bench said.     

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