A bench of Justices Arun Mishra and UU Lalit said they will render all promoters and directors homeless and will sell every inch of their properties if the company fails to raise Rs 5,000 crore — needed to complete unfinished housing projects.
The apex court also directed the company to file a proposal on selling off its assets to raise the requisite amount to be used to complete housing projects. It also asked the group to file details of their all assets- movable and immovable--and their valuation within 15 days.
The top court also sought a report on the companies responsible for the maintenance of Amrapali projects and the funds they have collected and disbursed. It also directed the company to submit the details of directors who are serving or have left the Amrapali group since 2008.
It further directed the power companies to restore today itself electricity in two Amrapali group projects, which was disconnected due to arrears.
The current set of directions came a week after the court asked the public-sector construction company, NBCC, to take over the controversial realtor's unfinished schemes and complete them in a time-bound manner.
from Times of India https://ift.tt/2MaL1mR
