New Delhi, May 4 (IANS) Promoters and top officials of realty firm Amrapali Group diverted homebuyers' money for personal benefits and building their own empire, said the forensic report submitted to the Supreme Court.

The audit report reveals that around Rs 3,500 crore of homebuyers' money was diverted by the Amrapali top brass. According to the auditors, the money was spent on houses, luxury cars and weddings among others and also invested in shares and mutual funds.

The Supreme Court on Wednesday slammed both the Noida and Greater Noida authorities and the banks concerned for the diversion of funds by the group.

Pointing to the diversion of Rs 3,500 crore by the Amrapali Group as estimated by the forensic auditors, Justice Arun Mishra said: "Rs 3,500 crore have gone away. Due to your inaction, cheating has taken place. The banks' inaction has contributed to it. Had you taken action timely, this would not have happened."