News: Supreme Court presses ED to speed up recovery from Amrapali directors after only Rs 283 crore attached in six years-17-09-2026
The Supreme Court on Wednesday told the Enforcement Directorate (ED) to treat attachment of former Amrapali directors’ assets as top priority, noting that only Rs 283 crore of assets had been provisionally attached in six years against Rs 5,619 crore invested by over 46,000 homebuyers. It listed the matter for October 26 to review progress.
The bench of justices Satish Chandra Sharma and N Kotiswar Singh recalled that in 2019 the court cancelled Amrapali’s RERA licence and ordered ED to trace the siphoned money so stalled projects could be completed. It said the 2020 attachment order had led to few properties being attached despite over Rs 5,600 crore being involved.
In its status report, ED said it had attached properties worth Rs 283.7 crore. It said 74 properties in Indore were identified for sale, but the application is pending before the special PMLA court. Additional solicitor general Aishwarya Bhati assured the court of immediate steps. The bench asked PMLA courts to decide on sale of attached assets quickly, if possible daily, and asked ED for a fresh status report.
Advocates ML Lahoty and Anchit Sripat, for homebuyers, said forensic auditors found only Rs 744.81 crore of Rs 5,619.47 crore recovered, with over Rs 2,159 crore due from promoters and directors and over Rs 1,200 crore from related third parties. Lahoty said NBCC has built 33,250 flats and 22,350 buyers got possession, leaving 10,900 waiting. A money laundering trial against the promoters is pending, ED said.
