Monday, 8 August, 2022
TopicAmrapali Group

Topic: Amrapali Group

SC approves SBICAP’s proposal to fund 6 stalled projects of Amrapali Group

The SBICAP, which manages the govt sponsored stress fund for real estate sector, had proposed to provide Rs 625 Crore for construction of these six projects.

SC directs transfer of all home buyers’ cases against Amrapali Group to ED

Several cases were lodged by home buyers' against the Amrapali Group after the management defaulted in timely delivery of flats and denied the agreed conditions.

Why SC allowing ED to attach assets has tightened the noose on JPMorgan in Amrapali case

US-based investment bank JPMorgan is accused of helping real estate developer Amrapali in transferring homebuyers’ money to offshore accounts.

Amrapali Group violated forex laws, laundered funds worth over Rs 55 crore, finds ED

The ED found at least seven 'contraventions' under FEMA and wants JP Morgan, a US-based investment banking firm, to be legally directed to remit funds worth about Rs 140 crore.

SC’s go-to real estate troubleshooter NBCC is struggling with stalled projects of its own

Many of the NBCC's projects are stalled, though it is not entirely of the PSU's own making in much of the cases.

After SC ruling high, the reality — NBCC has no money to finish Amrapali projects

NBCC, the state-run real estate developer appointed by SC to finish the Amrapali projects, has only Rs 19 crore of the approximately Rs 8,500 crore it believes it needs.

Has Supreme Court done justice to Amrapali home buyers or has it passed the buck to govt?

The Supreme Court has cancelled the registration of Amrapali Group and ordered the Enforcement Directorate to charge the builders with fraud and money laundering.

Amrapali illegally diverted homebuyers’ money to Dhoni’s sports company: SC

SC verdict says Amrapali Group also entered into “sham” agreements with Amrapali Mahi, a company in which Dhoni’s wife Sakshi is a director. Rhiti Sports dismisses charges.

JP Morgan helped Amrapali divert funds overseas, Supreme Court says & orders probe

A forensic audit found that JPMorgan violated foreign investment rules including paying dividend without generating profits, setting up fake companies and overvaluing shares.

Supreme Court cancels Amrapali’s registration, ED files money laundering charges

The Supreme Court appointed a court receiver in whom the rights of all Amrapali properties will be vested, and directed NBCC to complete pending projects.

On Camera

YourTurn

Opposition leaders protest outside Parliament | Representative image | ANI

Confused, aimless—why Opposition parties live up to Ronen Sen’s ‘headless chicken’ remark

From ‘compromising national security’ to 'playing havoc' with institutions, the Opposition continues to attack Modi while failing to reflect on own actions.
A suspension pylon in Tamil Nadu | Commons

You thought power subsidy is a Delhi-Punjab problem? Check out Tamil Nadu’s power sector mess

RBI data shows Indian discoms owe power generation firms over Rs 4.5 lakh crore, almost a third of which is owed by Tamil Nadu, where power subsidy cost is twice that of food subsidy.

Defence

The Flying Dolphin — how a former Indian Navy submariner qualified as a commercial pilot 

Vivek Chaudhary retired from the Indian Navy in 2017 after serving on the  Short-Service Commission. After that, his dreams took flight. 

In Kashmir 3 years on, 3 positive changes, 3 things that should’ve happened & 3 that got worse

Kashmir as a crisis has fallen off our headlines and from the top of our collective minds. Which is precisely the most important change for the better.
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