Hassled homebuyers who had invested in Amrapali Group projects moved the Supreme Court on Wednesday against the insolvency proceedings initiated against the real estate firm.
The petition, filed by Bikram Chatterjee and 106 others, says the company has neither given them possession of flats nor returned their hard-earned money spent to book homes in the Amrapali Centurion Park-Low Rise project, Amrapali Centurion Park-Terrace Homes and Amrapali Centurion Park-Tropical Garden at Greater Noida in Uttar Pradesh.
Proceedings before the National Company Law Tribunal (NCLT) has left the investors in a lurch as they would not be treated as secured creditors such as the banks and financial institutions. The petitioners advocate ML Lahoty said the…
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