Amrapali buyers stage protest on DND, stop traffic


Sunday morning saw over 500 homebuyers of more than 20 projects of beleaguered builder group Amrapali carry out a protest march on the DND toll road. The homebuyers blocked all the gates on the DND from 11am to 1pm and interrupted the movement of vehicles.


“We staged this protest because it is high time that a resolution on the Amrapali issue be arrived at. Since the matter of completion has got stuck at the level of funding, we beg the attention of the government so that an express funding may be created to execute the completion of the project. The government has multiple platforms to raise funds, and we appeal to Central and state governments to help complete the construction work,” said KK Kaushal, an Amrapali buyer.


Amrapali group, which is currently having hard time answering questions in the Supreme Court, has been accused of siphoning of Rs 2,765 cr from the homebuyers’ investments. The court has given the builder time till December 3 to come clean on how and where all its funds were diverted. The builders have been accused of mishandling investments of over 46,000 buyers.


The buyers moved the Supreme Court to seek justice against the delay and non-delivery of their apartments in September 2017. After prolonged litigation, the court asked NBCC to take charge of the completion. But the execution fell through for lack of funds.
“If the government has the will, it will also support in securing the funds for completion. The fate of such a huge number of buyers are at stake,” Rahul Kashyap, another buyer said.


The apex court now awaits the detailed financial disclosure by the builder. The court has demanded that every minute movement of funds be disclosed by the builders ahead of the next hearing.

Written by The Realty Paper

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