5,200 Amrapali flats are bogus or unsold, SC told

NEW DELHI: A total of 5,200 flats in various Amrapali projects are either bogus or unsold, court-appointed forensic auditors told the Supreme Court, which also grilled multinational firm JP Morgan, for investing ₹85 crore in the real estate company in 2010.

The bench was also displeased to know that two Amrapali properties could not be auctioned by the Debt Recovery Tribunal (DRT) as banks were financing buyers who have shown interest in the properties. As per an earlier SC order, DRT had to auction the properties by January 31. ››