NBCC To Submit Report On Stalled Amrapali Projects In Top Court Next Week: 10 Points

The matter relates to the embattled Amrapali Group which has failed to hand over possession of flats to around 42,000 homebuyers.

NBCC To Submit Report On Stalled Amrapali Projects In Top Court Next Week: 10 Points

Amrapali Group has failed to hand over possession of flats to around 42,000 homebuyers

A detailed project report on the 16 stalled projects of real estate major Amrapali group will be submitted to the Supreme Court next week, National Buildings Construction Company (NBCC) said on Thursday. The matter relates to non-delivery of flats to around 42,000 homebuyers by the embattled Amrapali group. NBCC chairman and managing director Anoop Kumar Mittal said the company has issued tenders for 10-11 projects, out of the stalled 16. Stating that the work on the Amrapali projects would start after the court's nod, he said the funding would be decided by the top court.

Here are 10 things to know:

  1. "In next one week, we will issue tenders for 5-6 projects. The DPR (detailed project report) for all 16 projects will be submitted to the apex court in one week's time," Mr Mittal told reporters.

  2. The Supreme Court had in September appointed NBCC to develop the stalled projects of the Amrapali group.

  3. State-run NBCC's appointment by the top court came after the company proposed to complete the stuck projects, comprising 46,575 flats, within 36 months at a construction cost of Rs. 8,500 crore.

  4. NBCC, Mr Mittal said, is mulling developing similar projects of other realty companies.

  5. NBCC would soon come up with a policy for development of new and stalled realty projects in larger public interest, he said. "We can act as project management consultant or co-developer or developer for real estate projects."

  6. NBCC has bagged two projects in Delhi from national carrier Air India and expects to start work on them in the next three-four months, he said.

  7. On Wednesday, Amrapali CFO Chander Wadhwa was ordered to furnish by Thursday correct facts about the benefits he received from the group, after the top court was told that he got a luxury car worth Rs 43 lakh.

  8. The bench asked the Amrapali group to disclose the details of luxury cars owned by it and their registration numbers.

  9. The apex court also refused to allow Amrapali chairman and managing director Anil Kumar Sharma, and two directors Shiv Priya and Ajay Kumar, currently residing under police surveillance at a hotel in Noida, to visit home on the occasion of Diwali.

  10. Amrapali group has been facing the wrath of the law after homebuyers moved the top court for not getting their flats delivered on time.

(With inputs from PTI)