SC cancels Amrapali group RERA registration for cheating homebuyers
Posted On : Wednesday, July 24, 2019, 6:29 PM
The Supreme Court on Tuesday cancelled the RERA (Real Estate Regulation and Development Act) registration of Amrapali group companies for defrauding homebuyers, diverting their money and failing to complete projects on time. In an unprecedented move, the top court also appointed state-owned NBCC India to complete the pending projects of the NCR-based developer. The homebuyers, who had bought flats in these stuck projects of Amrapali, will now have to deposit the remaining money in an account opened with the Supreme Court within three months.