Both, the Noida and the Greater Noida authorities decided to approach the Supreme Court in Amrapali case, as they seek clarity on recovering the outstanding dues of more than Rs. 5,400 crores.
In the last month, the court had cancelled Amrapali’s RERA registration and directed the state-run NBCC to complete its housing projects in both these cities.
The Supreme Court also restrained the two authorities from staking any claim in the housing projects of the Amrapali group. Apart from this, the court also asked the authorities to sell Amrapali’s attached properties to recover their outstanding dues. The Court also issued directives to the authorities to release completion certificate and execute the tripartite agreement within one month in projects where homebuyers are residing and also directed to provide water and electricity supply in the same projects.
The officials, however, said that the cost of these attached properties are not sufficient to clear dues and they intend to file an application seeking clarity on the same from the court before the next hearing that is scheduled for 9th August.
Ritu Maheshwari, CEO, Noida Authority said that we require more clarity on how our dues will be cleared and who will apply for the registry and how or to whom the completion certificate will be issued. The legal team of the authority is working on the presentation that will be made on the next date of hearing she said.
Maheshwari also said that a nodal team comprising eight members has also been formed to take care of new registries and buyers’ issues from Amrapali. We have also written to the power and water works departments for compliance of the order.
Narendra Bhushan, CEO, Greater Noida Authority said that our legal team is also in the process of reviewing the judgment and there are doubts in some sections. We still have to decide on how we will go about our future course of action.
As per the SC order, the dues of Noida Authority till April 2019 stands at Rs. 2,191.38 crore and the Greater Noida Authority has dues of Rs. 3234.71 crore as on January 1, 2019. According to the Court, the authorities can sell 12 properties of the Amrapali group to clear their dues.
A Noida authority official said that the attached properties in the order are insufficient to clear dues of the authorities.