Amrapali directors can’t travel abroad

New Delhi: The Supreme Court restrained the directors of real estate major Amrapali Group from leaving the country without its permission. A bench headed by Chief Justice Dipak Misra issued notice to the company and sought its reply within two weeks on a plea filed by Amrapali Silicon City Flat Owners Welfare Society. The bench appointed senior advocate Shekhar Naphade as amicus curiae to assist it by espousing the home buyers’ cause. In a similar petition by 100 home buyers who invested in three other projects of Amrapali Centurion Park Pvt Ltd at Greater Noida in Uttar Pradesh, the apex court had on October 6

hand over records to the IRP for drafting a resolution plan, indicating protection of interests of over 32,000 hassled home buyers and creditors.

The apex court while passing slew of directions had stayed any other proceedings instituted against the company for any purpose in any forum like the consumer commission, as IRP has been given control of the company’s management.

The court had then said it was not concerned about the interest of company but of the hassled home buyers, who mostly belong to the lower and middle- class strata.

“Home buyers need to be protected. It’s our duty and they should either get the money back or the flat,” the court had said while asking IRP to submit a resolution plan on how the money can be given back to home buyers in 45 days.