Top court orders sealing of 9 Amrapali Group properties

Tribune News Service
New Delhi, October 10

Embattled real estate major Amrapali was in for more trouble today as the Supreme Court ordered sealing of seven of its premises in Noida and Greater Noida, and two premises in Rajgir and Buxar in Bihar for recovery of documents needed for forensic audit of 46 companies of the group.

A Bench headed by Justice UU Lalit passed the order after the three promoter/directors — Anil Kumar Sharma, Shiv Priya and Ajay Kumar — taken into police custody yesterday told the top court that all the relevant documents were kept at the said premises.

The Bench ordered police officials of Noida, Greater Noida, Rajgir and Buxar that after sealing the premises, keys have to be handed over to the Supreme Court Registry to ensure that the documents were accessed only by the forensic auditors.

The court also took an undertaking from the company’s promoters/directors Anil Sharma, Shiv Priya and Ajay Kumar that all relevant documents were at the said premises and warned that if it was found to be wrong they would be taken to task.

“The undertaking shall state that all the documents pertaining to 46 companies from 2007 to 2018 now stand handed over. Such undertaking shall be submitted by tomorrow, it said, adding, “We are passing this order on the premise that the documents required by the Forensic Auditors are kept at the 7 plus 2 places and not any other place.”

Amrapali directors wanted the court release them from police custody, claiming all account papers are at the said seven premises.

But the court said if the entire exercise of sealing the seven premises in Noida and Greater Noida was completed on Wednesday, “the presence of the three applicants will not be insisted upon by the Police.

“However, if the exercise is not complete, the present status will continue except that these applicants, instead of being put up in the lock up, shall be kept in the police station itself,” the court ordered.

Asking the police officers concerned to comply with its order expeditiously, it directed that compliance report be filed before it by Thursday when it will take up the matter again.

The top court had earlier ordered Amrapali group statutory and internal auditors to audit the accounts of all the companies of the Amrapali Group to find out how Rs 2,765 crore was diverted by its directors. It had directed the company to hand over all the relevant documents to the two auditors who told the Bench that no documents had been shared with them by Amrapali Group since 2015.

RELATED Court orders arrest of diamond merchant in cheque bounce case