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Real Estate

Apex Court Gives Good News to the Homebuyers of Amrapali Group

PTI, The Supreme Court on Tuesday cancelled the registration of the embattled Amrapali group under the Real Estate Regulatory Authority and the lease of its properties granted by Noida and Greater Noida authorities.

A bench of Justices Arun Mishra and U U Lalit appointed the National Buildings Construction Corporation (NBCC) to complete all the pending projects of the Amrapali group.

The bench also appointed senior advocate R Venkataramani as the court receiver in whom the rights of all the Amrapali properties will be vested after the cancellation of the lease.

The top court said Venkataramani will have the power to enter into any tri-party agreement for sale of the group’s properties to recover the dues.

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