Wednesday, April 17, 2024

Amrapali home buyers’ case: SC directs ED to investigate

The Supreme Court today (July 10) directed the Enforcement Directorate (ED) to investigate all Amrapali home buyers’ cases which are being probed by economic offences wing and also directed the transfer of all Delhi/Noida Police FIRs to the ED. 

The court also directed buyers to pay their due obligation(s) in terms of payment schedule made by NBCC.

The Schedule is to be uploaded by the receiver.

The top court also restrained buyers to intervene and approach the NBCC.

When the receiver informed the bench that none of the banks have shown promise in responding, with respect to the last order passed by court on the release of funds, Justice Mishra took note and directed CMDs of all banks to do the same in two weeks.

The DHFL counsel said they have been in touch with the receiver, and have no issues disbursing funds to 311 home buyers (there were 400 such homebuyers). The counsel also said that the remaining 89 cases of serious default will be decided in due course – by the first week of August.

The ED informed the top court that as per previous order, Rs 187 crore has been deposited in UCO Bank from JP Morgan (which includes to Rs 140 Cr plus Rs 47 Cr interest).

-India Legal Bureau


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