SC issues notice to MS Dhoni in arbitration proceedings against Amrapali Group
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MS Dhoni
Supreme Court issued a notice to former India captain MS Dhoni and put a stay on the arbitration proceedings initiated by the Delhi High Court against the Amrapali Group on his plea. He is to get Rs 150 crore from the firm but on the other hand, other buyers are not getting their flats. This led them to reach the Supreme Court and the appex court has now issued notice to Amrapali Group and Dhoni.
In 2019, Dhoni approached SC to seek protection of his ownership rights on an over 5,500-square feet penthouse. He booked the penthouse 10 years ago in a project of Amrapali Group. He initiated the arbitration because he was the brand ambassador of the now defucnt real estate firm.
“Amrapali homebuyers’s interest has to be secured”- SC
According to the receiver’s report, “the sinking cum reserve fund shall be created to make provision of shortfall in construction cost and interest cost, if any. All the homebuyers across shall be asked to deposit a sum calculated at Rs 200 per square foot for booked units in that and such funds, if not utilised, shall be refunded back to them on overall completion of the projects. Since the initial booking made by the home buyers, the construction cost has increased.”
A bench of Justices UU Lalit and Bela M Trivedi stayed the arbiration proceedings and stated that Amrapali homebuyers’s interest has to be secured. “In view of these, it would be extremely difficult for the receiver to defend and take care of such litigations…It cannot be expected that the erstwhile management or anybody else can represent the Amrapali group of companies before the learned sole arbitrator,” the bench said.
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Gouri Das
(4697 Articles Published)