#WeeklyNewsRoundUp: Amrapali Diverted Homebuyers Money To Shell Companies, SC Told

Forensic auditors appointed to go through the books of embattled realtor Amrapali Group told the country’s apex court on October 24 that the company siphoned off Rs 100 crore of the homebuyers’ money. The company, auditors Ravi Bhatia and Pawan Kumar Aggarwal told the Supreme Court (SC), created at least 20 shell companies for this purpose. The auditors also told the top court Amrapali Group Chief Financial Officer Chander Wadhwa was not cooperating with the ongoing proceedings under the pretext of partial memory loss.

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The Noida Authority will launch a residential plot allotment scheme for which it will accept applications from November 13 to 28. Around 442 plots will be sold through the scheme, each measuring 200 square metre. These plots are located at sectors 12, 31, 33, 44, 47, 48, 49, 51, 52 and 55.

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The Ghaziabad Municipal Corporation has cleared a proposal to levy 12 per cent interest as penalty for defaulting in payment of taxes on houses, water and sewage-drainage.

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Norms regarding space between two high-rises are proposed to be diluted for the Rs 26,000-crore Dharavi Redevelopment Project in Mumbai. With Dharavi located in the Mumbai airport’s funnel zone, there are restrictions on how tall buildings can be. To ensure that this does not impact the project’s viability, the housing department has sought relaxations in norms regarding distance mandated between two buildings.

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Officials of the Ahmedabad Municipal Corporation (AMC) officials have identified 2,236 residential and 449 institutional properties for their architectural, historic or cultural value, and will form a plan to safeguard them. The city is among the UNESCO World Heritage Cities.

Source: Media reports