1. In spite of orders passed by this Court on the previous date Mr. Vishnu Surekha and Mr. Navneet Surekha are not present. Mr. Akhil Surekha is present in person. In spite of clear and categorical direction issued by this Court, Surekha family has not deposited a sum of Rs.167 Crores, which was to be deposited by 30.11.2019. Mr. Akhil Surekha is present in the Court, he has prayed that they are going to submit a concrete proposal within seven days with respect to payment of the aforesaid amount. Reluctantly, we give seven days’ time and fix the date for the personal presence of Mr. Vishnu Surekha, Mr. Navneet Surekha and Mr. Akhil Surekha on 13.12.2019.
2. We have made it clear that they are already guilty of flouting the order passed by this Court, in case they again flout the order, consequential order is going to be passed on 13.12.2019. For nonappearance medical reasons have been indicated, which prima facie does not appear to be sufficient. Be that as it may, let the order be complied with and all the abovenamed three persons remain present in Court on the next date of hearing.
3. The NBCC is working on the various projects i.e. Zodiac, Saphire-1, Saphire-2, Silicon Ph-1, Silicon Ph-2, Centurian ParkLow Rise, Centurian Park-O2 valley and Princeley Estate, which are mentioned in Annexure-A and they require nine months’ time to complete the aforesaid projects. Let them proceed further.
4. The learned Receiver has submitted a note pointing out various aspects. We authorize him to take a decision with respect to extra car parking areas claims, sale of commercial areas, diminution of common areas by reason of questionable sale etc. affected by Amrapali or their agents. He is authorized to conduct an inquiry also taking the assistance of the Forensic Auditors in the matter.
5. It was also pointed out that the areas, as may be required by Receiver, be clearly identified by the Noida/Greater Noida Authorities within seven days so that the proper conveyance deed is executed, as taking account of every such area is necessary to determine the stamp duty required to be paid and for execution of proper conveyance.
6. It is agreed to by the learned counsel for the home buyers that home buyers to deposit the amount by 31.01.2020 in the installments, if the entire amount cannot be deposited in one go.
7. Let the notice be issued to the Banks and other lenders (as per Annexure A) with respect to the proposal of the Receiver that the banks which have entered into loan agreement with home buyers directly or through Amrapali be directed to disburse the balance loan amount to each of the home buyer in one lump sum or within a period of one month and the Banks and other lenders shall also consider the case for fresh loans and grant them and also the proposal for suspending the recovery for a period of twelve months.
8. We also direct the bank to give response to the communication made by the Receiver as he is acting on behalf of the Court.
9. It is stated by the learned counsel appearing on behalf of the Royal Golf Link City Projects Private Limited that a sum of Rs.26.69 crores has been deposited so far. The remaining amount to be deposited by 10.01.2020.
10. On 14.10.2019, the Odisha State Housing Board was directed to deposit an amount of Rs.34,50,73,950/- by 11.11.2019. They have deposited a sum of Rs.20.53 Crores and for depositing the remaining amount four weeks’ time is prayed for. We extend the time to deposit by 31.12.2019.
11. By our order dated 14.10.2019, the New Raipur Development Authority was directed to deposit a sum of Rs.19,38,74,175/- by 11.11.2019. They have deposited a sum of Rs.10.26 Crores and for remaining amount four weeks’ time is prayed for. We extend the time to deposit by 31.12.2019.
12. Mr. Shiv Priya, Ms. Sonali Suman and Mr. Ajay Kumar have not deposited the amount, which was directed to be deposited vide this Court’s order dated 14.10.2019. No proper explanation is coming forth from any of these persons. We give them last opportunity, as prayed by the learned counsel, let explanation be submitted and to comply with the order passed by this Court till 13.12.2019.
13. On 14.10.2019, the Corporation Bank was also directed to deposit a sum of Rs.55.11 Crores. Today, none is present for the Corporation Bank. Let notice be issued to the concerned Branch of the Corporation Bank as to why the order has not been complied with and we also direct them to deposit the amount by the next date of hearing. Let the Manager of the concerned Branch of the Corporation Bank remain present in the Court to explain the same on the next date of hearing.
14. We authorize the Metal Scrap Trade Corporation Limited (MSTC Ltd.) to sell the cars, details of which will be provided by the Forensic Auditors, within a month from today, in accordance with law, after issuing proper advertisement. Let progress made to sale other assets be informed to this Court on the next date of hearing.
15. As prayed by Mr. Pavan Kumar Aggarwal, Forensic Auditor, let keys of the six properties be handed over by them to the learned Receiver, within three days.
16. It was also pointed out that details of unsold inventories tower-wise has to be worked out. We request the Forensic Auditors to be associated with the Receiver to work out project-wise unsold inventories and how much it can fetch tower-wise and also to work out how the tower-wise projects can be completed expeditiously. Let a concrete proposal be formulated in this regard.
17. The Receiver require proper infrastructure and full time staff to undertake the arduous task, he is free to select a place for having office in one of the properties of Amrapali Group, which be made available for effectively carrying out the work assigned to him at a centrally located place.
18. For the time being, we put at his disposal a sum of Rs.25 Lacs for the purpose of expenditure to be incurred for payment to the staff to be employed. We make it clear that this amount is not towards remuneration which is to be determined and paid to the Receiver for the services which are being rendered by him. The Registrar of this Court is directed to issue appropriate communication to the IndusInd Bank, Sector-51, NOIDA so that the money could be disbursed from Account No.201002234299 (IFSC Code INDB0000276) of Amrapali Hospitality Services Pvt. Ltd. in favour of the learned Receiver, within 10 days from today.
19. On behalf of the Noida/Greater Noida Authorities, we have been assured that they will extend full cooperation to the Receiver for due execution of the sale deed. Let the sale deeds and registered conveyance deeds be executed within one month. In case of any noncompliance, their CEOs will be responsible.
20. The Law Residentia has to handover 632 flats. It is submitted that there are investment in construction has been made which has to be looked into. Let them submit a proposal, within 7 days, to the Forensic Auditors, they will look into it and submit a report to this Court in this regard.
21. Since substantial properties have already been attached, there are certain other properties which are required to be attached, let the information be furnished by the Directorate of Enforcement to this Court for attaching those properties also, within 7 days. However, Directorate of Enforcement is free to proceed further with the investigation without attaching the properties, as prayed. Let details be submitted on the next date of hearing.
22. As the Receiver has informed us that Government of India has created certain funds for such projects which have not been completed, of approximately Rs.2500 Crores. We have requested Mr. Vikramajit Banerjee, learned Additional Solicitor General of India, to obtain instructions in this regard and inform this Court as regards modalities and the scheme, if any, for disbursement of such amount on the next date of hearing i.e. 13.12.2019.
23. We have perused the Status Report furnished today on behalf of Directorate of Enforcement. We have perused the same and given it back to Mr. Sanjay Jain, learned Additional Solicitor General of India, appearing on their behalf. Mr. Rajeshwar Singh, Joint Director and Mr. Amit Kumar Mishra, Dy. Director, from the office of Directorate of Enforcement, are present in the Court today, who have assured us of prompt investigation. Let the further investigation be made and this Court be duly apprised about the same. Let the investigation be completed as expeditiously as possible and taken to a logical end.
24. Let the investigation be done inclusive of J.P. Morgan with promptitude and a report in this regard be placed before the Court.
25. Let a proposal of NBCC about Tech Park be submitted within a week, as prayed, for consideration on the next date of hearing.
26. The Report of the Forensic Auditors about Heart Beat City and O2 Valley be considered on the next date of hearing.
27. The Receiver to get in touch with the local police for properly safeguarding the property, moveable and immovable both, of the various projects. We direct the concerned police officials/police station to extend full cooperation, on written request being made by the Receiver.
28. The Receiver shall take appropriate instructions from MSTC Ltd., on the issue of sale of unsold inventories and other properties of Amrapali Group and apprise the Court about the present status on the next date of hearing.
29. List on 13.12.2019.
