SC sends Amrapali CMD, 2 directors to police custody

NEW DELHI: In a transfer likely to rattle defaulting realtors, the Supreme Court on Tuesday ordered police to take the CMD and two directors of Amrapali Group into detention immediately from court docket to make certain that paperwork of 46 group corporations are seized for forensic audit over lawsuits of cheating and diversion of budget.

A bench of Justices Arun Mishra and Uday Umesh Lalit was livid with Amrapali CMD Anil Kumar Sharma and directors Shiv Priya and Ajay Kumar after being informed via court-appointed forensic auditors Ravi Bhatia and Pawan Aggarwal that the crowd had failed to supply financial paperwork as directed via the court docket, first on September 12 and alternatively on September 26.



The court docket stopped short of ordering their arrest, but mentioned the highest executives will stay in police detention until the required paperwork are handed over. “Don’t play conceal and search with the court docket. You are enjoying with the glory of the Supreme Court,” the bench warned whilst rejecting Amrapali group counsel Gaurav Bhatia’s request for one closing chance to agree to the orders.

Realty bites

A forensic audit comes to analysis of a company's financial information as evidence in court docket and is frequently associated with probes into frauds and swindles.

The group has not even statutorily audited accounts since 2015. The court docket ordered that all internally audited account paperwork of 46 corporations since 2015 be handed over for forensic audit.“We had directed on September 26 for delivering of all financial paperwork within 24 hours. We will not assist you to play video games with the court docket. This nonsense is probably not tolerated even for an hour,” the bench mentioned and requested Delhi Police and UP police to coordinate in seizing all financial paperwork and hand them to the auditors. It posted the matter for further listening to on October 24.

The bench mentioned: “...Not a single paper will stay with the auditors and directors of the Amrapali group of companies for the aforesaid period. All paperwork to be handed over to forensic auditors via police. In case the aforesaid persons fail handy over the paperwork, they shall stay in the custody of police until such time the paperwork are handed over.” The court docket famous that the Amrapali officers violated its order and had been vulnerable to be proceeded for contempt of court docket. “...It is not only planned non-compliance of the order but effort is being made to deplete the paperwork in utter violation of the order. No justification may well be identified via the counsel showing on behalf of the Amrapali group of Companies for not complying with the orders handed via this court docket,” it mentioned.


Appearing for home consumers, recommend M L Lahoty mentioned the crowd had additionally not complied with the SC order to Amrapali to put up the paperwork required via Debt Recovery Tribunal regardless of its October 4 order.


The bench mentioned prima facie the CMD and two directors have violated the court docket orders and thwarted process justice and issued them notice asking why contempt lawsuits be not initiated towards them.


Widening its net to include different directors, the bench ordered that 8 directors — Shiv Priya, Ajay Kumar, Subhash Chandra Kumar, Amresh Kumar, Sunil Kumar, Sudhir Kumar Chaudhary, Anil Kumar Sharma and Vinay Vishal — and three ex-directors, Rakesh Mahajan, Iftikhar Ahmed and Pallavi Mishra, in addition to statutory auditors shall not depart the rustic. “Passports of all the directors will be surrendered. This path is not acceptable to nominee directors,” it mentioned.


SC sends Amrapali CMD, 2 directors to police custody SC sends Amrapali CMD, 2 directors to police custody Reviewed by kailash soni on October 10, 2018 Rating: 5
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