SC Warns Amrapali Group Over Repeated Hood-Winking Of Court Order

CORPORATE

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

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.