The Supreme Court on Wednesday made a stern remark to the former head of Amrapali Group, Anil Sharma, stating that he should “enjoy being in jail.”
Sharma was arrested by the Economic Offences Wing (EOW) of the Delhi Police in September 2020, after he failed to comply with the Supreme Court’s orders to deposit Rs 5,000 crore towards the pending dues of the company’s homebuyers.
A bench headed by Justice Uday Umesh Lalit observed that Sharma had siphoned off over Rs 3,000 crore of homebuyers’ money and diverted it to other businesses.
“You better enjoy being in jail,” the bench said, adding that Sharma should not expect any mercy from the court as he had shown no remorse for his actions.
The court also directed the EOW to file a status report on the progress made in the investigation against Sharma and other accused in the case.
The Amrapali Group, which was once one of the largest real estate developers in India, had failed to deliver homes to over 42,000 buyers who had invested in various projects across the country.
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The Supreme Court had taken suo motu cognizance of the case in 2018 and appointed the state-run National Buildings Construction Corporation (NBCC) to complete the pending projects.
The court had also ordered the attachment of all bank accounts and properties of the company’s directors and promoters, including Sharma.
In July 2019, the court had directed Sharma to deposit Rs 5,000 crore towards the pending dues of the homebuyers. However, Sharma had failed to comply with the order, which led to his arrest by the EOW.
The court has been monitoring the progress of the case and had earlier ordered the Enforcement Directorate to probe the money laundering aspect of the case.
The Supreme Court has also directed the NBCC to complete the pending projects by June 2023.
The case has been closely watched by homebuyers across the country, who have been fighting for their rights for years. The court’s strict stance against Sharma and other accused in the case is being seen as a positive step towards ensuring justice for the homebuyers.
