New Delhi, Feb 22 (UNI) The Supreme Court on Thursday asked embattled realty major, Amrapali, to complete their unfinished work of 19 towers in its leisure park project situated at Greater Noida.
On March 27, the apex court would review the project work.
A division bench, headed by Justice Arun Mishra, was hearing the arguments and submissions from the petitioners, (many home buyers) and the real estate company.
The apex court questioned the builder about the source of the funding and timely execution as laid out in its proposal.
Counsel for the home buyers submitted to the apex court that the undertaking should be provided by the promoters along with the builders so that the interest of the purchasers were fully secured.
Senior advocate Ajit Kumar Sinha, counsel for many aggrieved homebuyers, sought that both the home buyers and the prospective promoters have to deposit the amount in two separate accounts before the Supreme Court.
The apex court ruled that adequate undertaking has to be submitted by three promoters to show their bona fide by March 7, Wednesday.
It also made it clear in its order that Amrapali has to furnish the details about the collaborators about the funding as well as about the project developments.
UNI XC RP1942