The Supreme Court of India on Tuesday shortlisted six residential projects of Amrapali Group that must be completed on priority. All of these six projects are from the Grade A category, and the apex court has asked the builder to submit the business plan for these projects.
The various residential projects of the beleaguered group were previously categorised depending on the completion status as per SC’s order. The court had said in February that they will prioritise the case based on completion status with Leisure Valley being the first one to be completed.
Amrapali through its counsel Alok Agarwal pleaded that they be given a chance to complete the projects with the help of co-developers. The apex court however ordered Amrapali to first furnish a detailed plan that should include how much money it can put from its own in bonafide form, business plans for the projects, how much money they can bring-in with the auction of unencumbered land parcels and details of bidders.
All this information is to be submitted by next hearing which will be held on April 25. The SC also asked homebuyers not to make any payment to the builder directly, rather they should do so only through the court.