Amrapali Silicon City homebuyers may move SC

Amrapali Silicon City buyers may move to the Supreme Court over the insolvency bid raised by the Bank of Baroda against the builder in the NCLT. The buyers have informed media that the complaints against Amrapali for this project are already pending in NCDRC and the Economic Offences Wing, New Delhi. The matter will now be taken to Supreme Court to protect their rights and conserve their interests as insolvency has been called for. Launched by the group in 2010, Amrapali Silicon City is spread over 1,76,758 square metres and has 4712 apartments planned in four phases which were supposed to be completed by 2013-end. But the builder is yet to complete civil work on seven towers. It has completed civil work on 21 towers and around 1,000 buyers have moved into unfinished flats. The builder has collected over Rs. 2000 crore from this project.