SC Cancels RERA Registration Of Amrapali; Asks NBCC To Take Over Noida Projects

Team SoOLEGAL 23 Jul 2019 10:00am

SC Cancels RERA Registration Of Amrapali; Asks NBCC To Take Over Noida Projects

In a major relief to thousands of homebuyers, the Supreme Court on Tuesday off the registration of Amrapali cluster beneath assets (Regulation and Development) Act 2016, and directed the National Building Construction Corporation take over its unfinished construction comes in Greater Noida and Noida.

The bench of Justices Arun Mishra and Justice U U Lalit found that Amrapali cluster had siphoned off homebuyers cash with the connivance of bigger Noida and Noida authorities.

The Court has directed the social control board of director to initiate action beneath bar of cash washing Act and exchange Management Act against Amrapali directors and authorities, and update the Court with progress of probe with periodic reports.

The NBCC can complete the stalled Amrapali comes, with its commission mounted at eight share. Homebuyers got to deposit remaining quantity in written agreement acccount.

Tagged: Supremecourt   RERA   Amprapali     
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