Real estate major Amrapali group asked to submit the valuation report of its directors

Supreme Court: The Bench comprising of Arun Mishra and UU Lalit, JJ., in an order to the real estate major Amrapali Group stated that the Supreme Court would sell “each and every property” of the firm in order to recover the cost of construction of all the pending projects.

The Supreme Court also sought within 15 days a valuation report of movable and immovable properties of groups managing directors and directors. Further, the Court asked for the submission of companies details that were engaged in looking after the maintenance of Amrapali projects along with the details of its serving directors and those who have left the Amrapali group since the year 2008.

In an earlier order by the Supreme Court had directed the Amrapali group to place the details of all the bank accounts since the year 2008 till present and ordered freezing the bank accounts of directors of its 40 firms.

[Source: PTI]

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