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INDIAN (B)

Amrapali-like fraud won't recur: Government

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The Centre told the Supreme Court on Thursday that a mechanism had been put in place to check diversion of funds by builders. Additional solicitor general Madhavi Divan said it was now mandatory for real estate companies to deposit 70% of the money raised from homebuyers in a separate bank account which would be used only for construction and builders would not be able divert the money.



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