Amrapali builder office to be auctioned
In a major setback for real estate major Amrapali Builder, one of its offices will be auctioned. The big action has been taken against Amrapali after they failed to pay back their debt to Corporation Bank. Also, 3 directors of Amrapali Builder have handed over their passports to Gautam Budh Nagar DM. According to the 3 directors, they won’t flee abroad and will pay their debt.
Earlier on July 24, the director and chief executive officer, healthcare, of Amrapali group were held by the revenue department for alleged non-payment of labour cess. Action against Amrapali group’s director Nishant Mukul and Chief Executive Officer, Healthcare, Ritik came on the directions of District Magistrate (DM) B N Singh. Officials said that both were detained at the Dadri tehsil lockup over “non-payment of labour cess of Rs 4.29 crore”. The DM said the company was asked to pay the cess but did they not comply. Action against the company functionaries was taken under Section 171 of the UP Revenue Board Act, DM Singh said, adding that further legal action will be taken if the company did not pay the due amount.
Several projects of the builder are stuck in Noida and Greater Noida leaving scores of home-buyers in the lurch.