The Supreme Court in its order on 18th January earlier this year directed forensic audit of another real estate giant Unitech and its subsidiary companies to probe alleged financial irregularities and diversion of home buyers funds by its promoters and directors which led to the company failing to complete housing projects.
Alike Amrapali, the united group involved in construction of 74 housing projected which involved 17,000 homebuyer who have invested in the project but due to financial crisis the group has not been able to complete the projects leaving buyers with no option other than approaching court. MD Sanjay Chandra and Ajay Chandra his brother have been in jail since April last year after being arrested by economic offences wing of the Delhi police for not handing over possession of flats to buyers despite money being paid to company.
However, on May 9th 2019 the forensic auditors told the court that the company have failed to cooperated with the officials and due to which it lefts with no option but to order CBI investigation against Unitech. A bench of justice DY Chandrachud and MR Shah did not expressly ordered for CBI probe but asked for assistance of attorney general on whether government can take over the management of the company and can government complete the stalled project with the help of central construction agencies.
The SC looking towards benefits for homebuyers asked for assistance of government and also ordered the withdrawal of all facilities given to the Chandra brothers in jail. The court said they should be treated like ordinary prisoners as per the prisoner manual of Tihar jail. The order took away all privileges it awarded in 2017 to facilitate Chandras’ meeting with their company officials and lawyers so that they could arrange money for refunding homebuyers money but looking towards their non-co operation in the investigation process court took away all such privileges.
Courtesy/By: Jayant Upadhyay
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11 May 2019
