Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | Property – Attachment of – Real Estate |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Case Type | Writ Petition |
Court | Supreme Court of India |
Disposal Nature | Directions Issued |
Headnote | Property – Attachment of – Real Estate Project-Amrapali Group of companies – Applicant has filed I.A challenging the proceedings/order passed by DRT-III – Applicant had entered into agreement with the Amrapali Group for developing a colony on partnership basis – As per the agreement an entitlement of 40% of the share in the favour of the applicant in the inventory was agreed – In terms of this understanding, he was able to aggregate about 160 acres of land though actual development in terms of construction was never undertaken – He held 40% of the ‘yellow’ area in the concerned colony of Indore with all rights of selling – The applicant was informed that his presence was required before the DRT-III, New Delhi to explain the details with regard to the project in pursuance of the writ petition filed against Amrapali Group – DRTIII by its order, directed the registry to issue a request letter which is to be placed before Supreme Court for granting permission to sell the said area – The main contention of the applicant is that his liability stands confirmed only to the extent of Rs.4.79 crores and as such, there would be no justification to continue with the attachment of all the assets – It is in pursuance of the above proceedings that the matter is before Supreme Court – Held: There are two divergent views – According to the forensic auditors, the liability of applicant is to the tune of Rs.10.26 crores and also in the additional sum of Rs.2.31 crores; whereas, according to the ED, the extent of funds siphoned off were to the tune of Rs.4,79,76,180 only – At least Rs.21 crores were invested by Amrapali Group for purchase of these lands – Bulk of investment was made by them – Merely because the extent of money which was siphoned off has been put at the level of Rs.4.79 crores would not mean that lands beyond this value ought to be released in favour of applicant – The prayer made by applicant for releasing attachment of all the assets in question, cannot be granted at this stage |
Judge | Honble Mr. Justice Uday Umesh Lalit |
Neutral Citation | 2022 INSC 1180 |
Petitioner | Bikram Chatterji & Ors. |
Respondent | Union Of India & Ors |
SCR | [2022] 9 S.C.R. 239 |
Judgement Date | 2022-11-07 |
Case Number | 940 |
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