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SC nod to NBCC for two of Amrapali’s housing projects

SC nod to NBCC for two of Amrapali’s housing projects
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The Supreme Court on Friday gave its nod to the stateowned National Building Construction Corporation NBCC going ahead with the completion of the two stalled projects of the real estate giant Amrapali Eden Park and Castle The completion of both the stalled projects would cost Rs 496 crore Earlier the NBCC was asked to step in and take over the incomplete projects of Amarapali

New Delhi: The Supreme Court on Friday gave its nod to the state-owned National Building Construction Corporation (NBCC) going ahead with the completion of the two stalled projects of the real estate giant Amrapali - Eden Park and Castle. The completion of both the stalled projects would cost Rs 4.96 crore. Earlier the NBCC was asked to step in and take over the incomplete projects of Amarapali.

Allowing the NBCC to go ahead with the completion of the remaining work of Eden Park and Castle, the bench of Justice Arun Mishra and Justice Uday Umesh Lalit today asked the petitioner home buyers to make a point-wise submission that will be taken up during next hearing on February 11. Asking the parties to make their written submission on the points that have come up in the course of hearing of the matter, Justice Mishra said, “We have heard this case too long on every issue. Make submissions point-wise.”

Justice Mishra said that they will pass “exhaustive and comprehensive orders.” Referring to the money that has been transferred from the real estate company and its units to the Directors and their family members, Justice Lalit said, “Whoever has been the beneficiary of the transfer of money” it should come back to the kitty. The court had earlier appointed forensic auditors to look into the accounts of the beleaguered real estate major. They found many infirmities in the account books.

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