NBCC can float tenders for stalled Amrapali projects

◗ The bench directed the company representatives and the directors to be present before the DRT on each and every date, unless they are specifically dispensed with by the tribunal

New Delhi, Oct. 3: The Supreme Court has allowed National Buildings Construction Corporation Ltd ( NBCC) to float tenders for selecting the builder to complete the stalled projects of Amrapali Group.

The top court also asked the NBCC to prepare a detailed project report for pending projects within 60 days.

A bench of Justices Arun Mishra and U. U. Lalit asked the NBCC to submit the detailed proposals along with their terms and conditions before the court and directed the existing architects of Amrapali Group of Companies to ensure cooperation with the NBCC.

The top court said noncooperation by existing architects of Amrapali with the NBCC will be “viewed seriously”.

The bench was informed that proceedings before the Debts Recovery Tribunal ( DRT), Delhi for sale of the unsold inventory of Amrapali Group has started, valuation of properties has been ordered, and the tribunal has directed for production of original documents, sanctioned plans and other relevant documents with the company.

The bench directed the Amrapali Group of companies and directors — Anil Kumar Sharma, Shiv Priya and Ajay Kumar to submit the maps which clearly delineate unencumbered portion of their individual as well as company properties and other details which have been asked by the DRT.

The bench also directed the company representatives and the directors to be present before the DRT on each and every date, unless they are specifically dispensed with by the tribunal.

The court allowed the DRT to move ahead with the process of finding out the encumbrances of the properties and permitted the Bank of Maharashtra and all other such creditors who may have charge on the unencumbered property to state their claim before the DRT.

The bench noted that its earlier order of handing over of the documents by the statutory auditors as well as by the Amrapali group of companies to the forensic auditors has been violated.

“With respect to the handing over of the documents by the statutory auditors as well as by the Amrapali Group of Companies, we note it regrettably, that the order passed by this Court has been violated and the documents have not been handed over in spite of clear and categorical dire- ction to handover the documents to forensic auditors within ten days,” it said.