GET Stock QuotesNews18 APP
News18 English
»
2-min read

Supreme Court Orders Sealing of 9 Amrapali Group Properties Where Papers Are Kept

The court had on Tuesday sent three directors of the group to police custody, directing them to hand over all the documents of the 46 group companies to forensic auditors.

News18.com

Updated:October 10, 2018, 5:54 PM IST
facebookTwittergoogleskypewhatsapp
Loading...
New Delhi: The Supreme Court on Wednesday directed the sealing of seven properties of the Amrapali group at Noida and Greater Noida where the documents related to its 46 group companies are kept.

A bench of Justices UU Lalit and DY Chandrachud also ordered sealing of two properties of the group at Rajgir and Buxar in Bihar saying that after sealing of these properties, its keys be handed over to the registrar of the apex court.

It further said that only the court appointed forensic auditors and their authorised representatives can enter the premises which are to be sealed.

The court had on Tuesday sent three directors of the group to police custody, directing them to hand over all the documents of the 46 group companies to forensic auditors.

The court said that the group promoter Anil Sharma and the two other directors - Shiv Priya and Ajay Kumar - of the real estate group will remain in police custody and not in jail till the papers are secured for a forensic audit, a day after they were whiskey away by police dramatically from inside the courtroom.

The Supreme Court, while hearing a petition by a bunch of aggrieved homebuyers, said it had enough of their "hide and seek".

The bench was anguished over the fact that the Amrapali directors had failed in the last two months to hand over various relevant documents for a forensic audit.

The two auditors - Ravi Bhatia and Pawan Kumar Aggarwal - appointed by the court to conduct forensic audit of Amrapali Group, had said that they have not yet received all the documents, which the bench had termed as "gross violation" of its order.

The court has sought to know whether the money invested by the homebuyers were diverted for some other purposes and for this, an audit has been ordered. But these documents remained elusive and the bench came down heavily on Sharma and two directors who had been summoned.

"We don't know if it will take one day or one month. But you will be in custody until all the documents are given to the auditors," the bench had said as it directed the Delhi Police and Noida Police to work on tandem to seize the pertinent documents.

"You will now be released only after the auditors are satisfied that they have received all the documents," clarified the bench, as it further issued formal notices of contempt of court.

It has also ordered for confiscation of the passport of the trio while fixing October 24 as the next date of hearing.

It is the third such incident in the recent past when people have been arrested inside the courtroom.



Subrata Roy was arrested over not complying with the court order to refund the money meant for reimbursing the investors. In the same case, another person was arrested inside the courtroom over resiling from his stand to buy a property of Sahara group.
(Get detailed and live results of each and every seat of the state Assemblies in Madhya Pradesh, Rajasthan, Telangana, Chhattisgarh and Mizoram to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you put on the psephologist's hat. Know interesting facts and trivia about the elections. Elections = News18)
| Edited by: Aakarshuk Sarna
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 174.70 -6.38
Indiabulls Hsg 775.70 5.64
Reliance 1,107.05 -0.31
TCS 1,982.60 -1.70
Sun Pharma 422.10 -2.17
Company Price Change %Gain
CPSE ETF 23.06 0.57
Yes Bank 174.70 -6.48
Indiabulls Hsg 774.25 5.53
Larsen 1,425.15 1.77
Jyothy Labs 193.95 0.05
Top Gainers
Company Price Change %Gain
Indiabulls Hsg 775.70 5.64
Bajaj Finserv 6,159.40 2.85
Infosys 697.75 2.84
HPCL 225.15 2.67
Maruti Suzuki 7,670.50 2.66
Company Price Change %Gain
Wipro 338.75 2.64
Infosys 696.50 2.62
Kotak Mahindra 1,268.00 2.56
Maruti Suzuki 7,650.00 2.18
Larsen 1,425.15 1.77
Top Losers
Company Price Change %Gain
Yes Bank 174.70 -6.38
Sun Pharma 422.10 -2.17
UPL 773.45 -2.10
Eicher Motors 23,305.40 -1.76
TCS 1,982.60 -1.70
Company Price Change %Gain
Yes Bank 174.70 -6.48
Sun Pharma 422.15 -2.12
TCS 1,983.65 -1.74
Tata Steel 512.25 -1.57
Adani Ports 370.60 -1.01

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results