The giant Amrapali Group suffered a shock when the Supreme Court bench comprising of Justice U ULalit and Justice D Y Chandrachud gave a direction for sealing of seven properties belonging to the Amrapali Group at Noida and Greater Noida. At those places, the documents of 46 companies are kept. The bench also ordered the sealing of two more properties located in Buxar and Rajgir in Bihar. It was further ordered that once the sealing process is complete, the keys are to be handed over to the registrar of the Supreme Court. These directions came on Wednesday after three directors of the Group, Anil Kumar Sharma, Ajay Kumar and Shiv Priya, were taken into police custody on Tuesday. The directors were also ordered to submit an undertaking saying that no documents are present at any place except for the nine that nine properties that are mentioned above. The apex court further said that only the only appointed forensic auditors and their authorized representative would have access to the buildings that are to be sealed. The directors would be kept at the police station till the time the properties in Noida and Greater Noida will be sealed. Forensic auditors Ravi Bhatia and Pawan Kumar Agarwal conducted the forensic audit of the Amrapali Group after several petitions were filed by a large number of homebuyers regarding the possession of 42,000 flats. The audits revealed that the Group had not submitted the documents that were asked for earlier, committed a “gross violation” of court order by not submitting the accounts book too. It was also found out by the court that the account books were maintained only till the year 2005 and there were no recording in the books after that. Furthermore, documents of only 2 firms, Amrapali Zodiac and Amrapali Princely Estates, were handed over out of 46 firms.
Courtesy/By: Mansi Mishra
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12 Oct 2018
