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Supreme Court Slams Authorities, Banks For Ignoring Amrapali Group’s Wrongdoings

Supreme Court Slams Authorities, Banks For Ignoring Amrapali Group’s Wrongdoings

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  2 May 2019 7:48 AM GMT

New Delhi: The Supreme Court on Wednesday slammed the Noida and Greater Noida authorities, including banks, for being “hand in gloves” with the beleaguered real estate major Amrapali Group and for abdicating their responsibility in monitoring the housing projects thereby leaving lakhs of home buyers in the lurch. “It is your own doing. You have not done anything. If you had done anything, this would not have happened. If it is not hand in gloves then what it is,” Justice Arun Mishra told the Noida, Greater Noida authorities and the banks.

Pointing to the diversion of Rs 3,500 crore by the Amrapali Group as estimated by the forensic auditors, Justice Mishra said, “Rs 3,500 crore have gone away. Due to your inaction, cheating has taken place. The banks’ inaction has contributed to it. Had you taken action timely, this would not have happened.” Referring to the 15 lakh people who have suffered in different housing projects of varied builders in Noida, Greater Noida and elsewhere, Mishra said, “Such large scale things happen only in India. Everybody is in the lurch.” (IANS)

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