In a major relief to over 50,000 Amrapali homebuyers, the Supreme Court on Tuesday ejected the group from its housing projects, cancelled its registration and land-lease deeds and took control by appointing a receiver and asked NBCC to complete the projects.
The much-awaited judgment, which can be a template for other stalled projects where homebuyers have been cheated, came down heavily on creditor banks and Noida and Greater Noida authorities as being equally culpable for the fraud perpetuated by Amrapali.
 

In a major relief to over 50,000 Amrapali homebuyers, the Supreme Court on Tuesday ejected the group from its housing projects, cancelled its registration and land-lease deeds and took control by appointing a receiver and asked NBCC to complete the projects.
The much-awaited judgment, which can be a template for other stalled projects where homebuyers have been cheated, came down heavily on creditor banks and Noida and Greater Noida authorities as being equally culpable for the fraud perpetuated by Amrapali.