NEW DELHI: The intervention of the apex court in Amrapali’s case has not only protected the interest of homebuyers who had invested their hard earned money but also made the housing projects viable. Many unsold units have now been sold with court-appointed receiver and now attorney general R Venkataramani on Thursday informing the court that 6,686 flats raising Rs 3,861 crore so far.
Filing a comprehensive status report on the work done during the last five-and-half years, the receiver told the court that NBCC, which was entrusted the task in July 2019 to complete all housing projects of Amrapali, has completed construction including finishing, electrical and allied services work of around 25,000 flats and has applied for various NOCs. He informed the court that those flats which remained unclaimed and those units for homebuyers were not paying the amount were also being sold.
“The court receiver has released 4,959 unsold units to NBCC for sale. Requisite number of units have been excluded to resolve dual allotment cases, defaulter categories and few other genuine claims which are in good number. Out of 4,959 units, 4,733 units were sold for a total sale value of Rs 2,617 crore and Rs 2,165 crore have been realised till Jan 15. Further, 1,953 units of defaulter and registered but not making payment categories have been released to NBCC for sale. These units have been sold for a total sale value of Rs 1,244 crore against which around Rs 1,012 crore has been realised,” the report said.Proceedings in the case started in 2017 when a batch of homebuyers approached the court and it passed a slew of orders putting its promoters and officials in jail and also directed a forensic audit of the company which revealed massive siphoning of the homebuyers money. The court had in 2019 ousted the management of the company and appointed senior advocate and now attorney general R Venkataramani as receiver to manage the affairs of the company. The court also roped in NBCC to complete the construction work and also ensured that funds are provided to the PSU for undertaking the task.
As per the last status report of NBCC, the PSU has completed around 25,000 flats and the structure of another 15,200 units have been completed. It has completed the work of around Rs 7,823 crore till Dec 10 and for which it received Rs 7,480 crore. The outstanding dues is around Rs 343 crore. NBCC is working on 16 housing projects of Amrapali in Noida, Greater Noida and Manesar.
“NBCC has provided around 25,000 flats in various Amrapali projects situated both in Noida and Greater Noida from 2020 till Dec, 2024. The Office of the court receiver keep periodical information about the flats which are completed and ready for possession, and payment details of the home buyers. In the process only 15,000 home buyers have submitted their documents for verification. Out of 15,000 home buyers, around 12,550 existing home buyers and 1,000 odd fresh home buyers who have bought unsold units and have cleared all dues were given with no objection certificates and possession letter,” the receiver said in his report.
He told the court that nearly 1,000 home buyers have sought refund of their investments and did not want possession of their flats. “The units of the home buyers who sought refund after settling their claims can be released to NBCC for sale. Subject to the availability of funds in hand, the Committee (appointed by SC) decided to refund the home buyers in slots. As a first slot, consisting of 420 odd home buyers, the Committee through the Forensic Auditor Ravi Bhatia has initiated the process of refund by verifying their documents. The Committee has refunded around 200 homebuyers,” the report said.
