The Supreme Court warned the homebuyers of now-defunct Amrapali Group on Wednesday that their unwillingness to pay the outstanding dues may lead to winding up of the stalled projects due to financial crunch. The top court cleared the modalities by which the homebuyers can be put to notice for clearing outstanding amounts after being validated by the court receiver appointed by the apex court.
It said that it would not allow the ‘ghost buyers’, who had purchased flats from Amrapali Group at a nominal price to step in by allowing them to pay the outstanding amount and their registration of flats will be annulled.
The bench retorted, “If you don’t want to pay the money, then we will ask you to go home. If you want the construction to come up, then homebuyers will have to pay the outstanding money. Be ready to deposit the outstanding amount”.
It said that the project-wise name of the homebuyers, whose payments are due, will be uploaded on the websites of UCO bank, Noida and Greater Noida authorities and would be later validated by the senior advocate R Venkataramani. The bench said that after the court receiver validates the details of homebuyers on these websites, they will be put on notices to pay the outstanding amounts, which has been estimated by the forensic auditors to be around Rs 3,600 crore.
Read EquityPandit’s Nifty Outlook for the Week