The bench sought the stand of the homebuyers and the Greater Noida authority on the status report filed by the court receiver who said the National Buildings Construction Corporation (NBCC) had completed around 25,000 flats in the stalled housing project of the realty major.
The top court has from time to time passed a slew of directions and orders to assuage the grievances of the hassled home buyers of over 45,000 flats in different projects of the group.
The bench asked advocate M L Lahoty, appearing for home buyers, to file his response within a week to the status reports filed by attorney general R Venkataramani, who was appointed court receiver by the apex court in 2019 and the NBCC.
The top court also allowed Venkataramani and senior advocate Siddharth Dave, appearing for the NBCC, to file their counter to the responses of home buyers and Greater Noida Authority, where most of the projects of Amrapali are situated.
Lahoty pointed out that the top court had initiated suo motu contempt proceedings against the office bearers of the erstwhile Amrapali Group including its CMD Anil Sharma and other directors for siphoning off around Rs 3000-4000 crore of the home buyers’ money and the direction for returning the money was not complied with. He said the court receiver’s status report was silent on the 2019 direction of the court for the return of the money. Venkataramani, however, said the focus of the 2019 verdict was on the completion of the stalled projects to give respite to the home buyers which was largely complied with.
“You may pick a hole here and there but compliance of larger directions of the court on completing the stalled project has been done,” he said.
Venkataramani referred to facing hurdles when it came to the registration of flats among other things.
The bench said it would pass a detailed order while posting the hearing on March 26.
On February 27, Venkataramani in a status report said the NBCC, which was entrusted with the task of completing the stalled projects of Amrapali Group, had completed around 25,000 flats and sold 6,686 flats of defaulter homebuyers to raise an amount of Rs 3,177 crore till date.
He informed the bench that the apex court in August 2021 allowed the NBCC to sell unsold inventory after giving due opportunities to the defaulter homebuyers.
“The court receiver has released 4,959 unsold units to the 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 the 4,959 units, 4,733 units were sold for a total sale value of Rs 2,617 crore while Rs 2,165 crore has been realised till Jan 15, 2025,” he said.
Venkataramani submitted that 1,953 units of the defaulter homebuyers of “registered but not making payment” category were released to the NBCC for sale.
These units, he said, were sold for a total sale value of Rs 1,244 crore against which around Rs 1,012 crore has been realised till January 15, 2025.
“Altogether, including both the categories, 6,686 units have been sold by NBCC for a total sale value of Rs 3,861 crore, and the office has received a total payment of Rs 3,177 crore,” the status report said.
Venkataramani added, “The NBCC has completed all the incomplete structures, including finishing, electrical and allied services work, of around 25,000 flats (which also include 3,231 units sold by the NBCC). The NBCC has also applied for various NOCs like fire NOC, lift NOC, etc., for all the 25,000 flats.”
He said 25,000 flats, which were completed by the NBCC from 2020 till December 2024, were in various Amrapali projects situated both in Noida and Greater Noida.
On January 9, while saying bookings would be cancelled and flats would be sold to other buyers, the top court took a dim view on homebuyers not turning up to take possession of flats in the Amrapali projects being completed by the state-owned NBCC.
It asked Venkataramani to furnish the latest status report of the unsold assets or where the homebuyers did not turn up despite efforts to reach out to them.
The apex court in its July 23, 2019, verdict had cracked whip on errant builders for breaching the trust reposed by the homebuyers, and ordered the cancellation of Amrapali Group’s registration under real estate law RERA, and ousted it from prime properties in the NCR by nixing land leases.
The top court, which is trying to bring in funds for the stalled projects, appointed a court receiver as custodian of the properties of Amrapali Group.
