The Supreme Court had asked the Amrapali Group to deposit ₹250 crore in four weeks in an escrow account to be paid to the co-developers on completion of the projects. Photo: MintNew Delhi: The Supreme Court on Wednesday pulled up the Amrapali Group for “defrauding investors” and playing “dirty games” with the court and ordered attachment of all bank accounts and movable properties of 40 firms belonging to the real estate major. Lalit directed the Amrapali Group of companies to place before it details of all its bank accounts from 2008 till today and ordered freezing of bank accounts of all the directors of its 40 firms. The apex court summoned secretary, Ministry of Housing and Urban Affairs, and chairman, National Buildings Construction Corporation India Ltd, for proceeding with matters of the group without its approval. The group had then given the details of its ongoing housing projects, stages of work and the likely time to complete construction.

Source: Mint August 01, 2018 11:15 UTC