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SC asks Amrapali how much it requires to complete projects
New Delhi, April 11 (IANS) The Supreme Court on Wednesday directed real estate major Amrapali Group to submit details of the amount it required to complete its housing projects and also a proposal on shifting buyers from projects that are at a nascent stage.
A bench of Justice Arun Mishra and Justice U.U. Lalit also asked the company to give details of how much amount it has collected from the home buyers, how much it has invested in its housing projects and whether there was any outstanding amount which was to be paid by the home buyers.
During the hearing, counsel for the home buyers said the firm has three categories of projects — one where people were residing and possession of several units has been handed over, second where the builder was saying that construction would be completed within a year and the third was where the construction was at a nascent stage.
The bench asked the company if the buyers who have invested their money in projects where construction has not started could be accommodated to the unsold units in projects where possession could be handed over.
The counsel appearing for the real estate major said the company was willing to accommodate few of the buyers but there were objections from them about change of location, size of the flats and others.
The bench posted the matter for hearing on April 17.
The Amrapali Group earlier submitted a comprehensive proposal on how it planned to deliver 42,000 flats to its buyers in various projects.
Earlier, the Group, facing insolvency proceedings initiated by the creditor bank for not repaying the loans, told the court that it was not in a position to complete the projects and hand over possession of flats to over 42,000 home buyers in a time-bound manner, and the properties needed to be developed with the help of co-developers.
The Amrapali Group has liabilities of about Rs 3,000 crore towards authorities, owes over Rs 1,000 crore to about 10 banks, and needs about Rs 3,000 crore to complete its ongoing projects.
The apex court has been hearing a batch of pleas filed by home buyers who have sought quashing of the National Company Law Tribunal order admitting insolvency proceedings against Amrapali Group.
Buyers belong to the low and middle-income groups and must be granted equal protection as other stakeholders — financial and operational creditors, the home buyers’ plea had said.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.