Amrapali Case: SC orders attachment of Amrapali’s 5 star hotel, FMCG company and malls
Supreme Court in its interim direction today, ordered the attachment of Amrapali’s five star hotel, FMCG (Fast-Moving Consumer Goods) company, corporate office and malls.
The apex court has ordered for the attachment of more properties of the beleaguered Amrapali group, which is facing suits by homebuyers for alleged diversion of money collected by some of the group’s firms. In an interim direction, the apex court ordered the attachment of Amrapali’s five-star hotel, FMCG company, corporate office and malls.
The decision comes after in a comprehensive affidavit placed before the Supreme Court, Amrapali CMD Anil Sharma has admitted the diversion of Rs 2,996 crore to other group companies, due to which the group faced financial crunch and could not complete housing projects in time.