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Supreme Court Orders Amrapali Group To Have A Forensic Audit.

Courtesy/By: Subhalagna Choudhury | 05 Sep 2018

The Supreme Court made pretty strong comments on hearing the crisis laden Amrapali Group. It has assured funds to the first 46575 flats that estimates to an amount of 8500 crore rupees, to be paid to the Government agency NBCC. The court however pointed to a big scam afterwards.

The court gave it’s consent and support to the forwards audit of Amrapali Group’s accounting system to detect an embezzlement of funds. The court fears a big scam may be underway. It said that a scam of a big nature or a very serious fraud is going on in the name of real estate business. The court asked the Amrapali Group to co-operate with the auditors. Cooperation should be given while dealing of premise or face to face forensic audit of directors, their wives.

The bench said , “ We will not ask you to make any money from NBCC. We will provide you the full fund to start the project. The idea is that the work should start'. The bench asked Amrapali Group to answer to the proposal of NBCC who claimed that 15 residential projects worth 8500 crores can be completed within 36 months.

Courtesy/By: Subhalagna Choudhury | 05 Sep 2018