New Delhi: The Supreme Court, Monday, directed the Odisha State Housing Board and other state authorities to deposit the fund in the apex court registry which was deposited by the Amrapali Group to develop housing projects.
A two-judge bench of the apex court, comprising Justices Arun Mishra and UU Lalit, asked the Odisha Housing Board to deposit Rs 34 crore given to it by the Amrapali group for the development of housing society.
The apex court also asked the Raipur Development Authority to deposit Rs 19 crore with the registry.
The bench observed that there will not be any forfeiture of any amount deposited by the Amrapali Group as it was the home buyers’ money diverted by the the embattled real estate group.
The apex court asked the Metal Scrap Trade Companies (MSTC) to auction the attached properties of defunct Amrapali Group of Companies and its directors and deposit the cash with the apex court registry.
The bench observed that that the funds collected through auction of properties will help in speedy completion of stalled projects and bringing back the confidence of home buyers.
While accepting the suggestion of senior advocate R Venkataramani, appointed as court receiver for auctioning of the attached properties of Amrapali, the SC directed relevant documents of the attached properties, which were with the Debt Recovery Tribunal, be given to the MSTC, which would auction the assets and deposit the amount with the apex court registry.