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    Amrapali submit details of all its properties worth over Rs 5,500 crore in SC

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    commercial spaces

    Amrapali in the affidavit proposed to complete and sell commercial spaces worth Rs 1,040 crore within two years, sale proceedings of which can be used to complete the development of projects falling under Category A and B.

    According to the company, Rs 205 crore is initially required to complete about 11,403 flats in Category A projects and Rs 637 crore is initially required to complete 9,715 apartments in Category B projects.

    The company also proposed to sell its properties situated in Vrindavan, Bhubaneswar, Bareilly, Indore, Jaipur, Udaipur, Raipur, Patna and Muzzafarpur, among other cities worth Rs 1,193 crore.

    The SC also ordered the forensic audit of all companies of Amrapali. The auditor has been asked to give details including names of competent firms by August 28.

    During the hearing, it was pointed out by counsels that Amrapali has not filed details of eight companies in their affidavit submitted with the Supreme Court.

    The court then reprimanded the company and asked it to give details of these eight additional companies.

    The apex court also said that the maintenance charges should be paid by Amrapali, since legally ownership has not been transferred to the flat owners.

    Info- https://realty.economictimes.

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