Earlier, in the previous
hearing, the Supreme Court had taken a tough stand against the Real Estate
Company Amrapali Group for knowingly defy the order of the Supreme Court.
In the case of fraud
with thousands of investors, the Supreme Court is constantly screwing up on the
Amrapali Group. Important issues will also be heard on Monday in the Amrapali
case. In the previous hearing, the Supreme Court has directed the company's
Chairman and Managing Director (CMD) Anil Sharma and two Directors Shiv Priya
and Ajay Kumar to appear on November 19 (Monday). It is being told that the
court can pronounce the shock and the decision to shock the builder.
Earlier, in the previous hearing, the Supreme Court had taken a tough stand against the Real Estate Company Amrapali Group for knowingly defy the order of the Supreme Court. The Supreme Court had ordered the company's multi-specialty hospital, bank accounts, Anonymous villa of Goa and seize the building, which has offices of this company and some other firms.
The harsh attitude
adopted to ignore orders deliberately
A bench of Justice Arun
Mishra and Justice UU Lalit had said that the Amrapali Group deliberately did
not comply with previous orders and 'big fraud' was passed by transferring the
money of home buyers from one company to another.
The bench ordered the
company to seize 100-bed multi-specialty hospital in Greater Noida. In this,
money used by Ultra Home Construction Pvt Ltd Apart from this, the order to
seize the bank accounts and properties of Gaurisuta Infrastructure Pvt Ltd and
its director Sunil Kumar also had to be seized.
Under the court orders,
those towers will also be seized, in which the company's offices are located.
Also a Goa Aqua Fortis Villa will be seized. No one has claimed the ownership
of this villa. The Amrapali Group has also been banned from selling 86 luxury
cars and SUVs purchased from the company's fund to a third party.
Stop separation from
companies
The Supreme Court has
ordered the chief financial officer of the company Chander Wadhwa to deposit
11.69 crore rupees in the court registry within three weeks. Along with this,
auditor Anil Mittal has ordered to pay 47 lakh rupees. The court also banned
Amrapali from separating from those companies with whom he had done the
transaction. In addition, it has also ordered the attachment of these
companies.
2000 million moved to
subsidiary companies
Forensic Auditors Pawan
Kumar Agrawal and Ravi Bhatia, appointed by the apex court, told that Rs. 442
crores of house buyers were given to 15 companies and nine persons in the name
of advance from Amrapali Sapphire Project. In his report, he said that Amrapali
Infrastructure Pvt Ltd is the main company and has transferred about Rs. 2,000
crore to its subsidiaries.
500 crores for filing IT
returns
Ravi Bhatia told the
bench that Stunning Construction Pvt Ltd has done a wonderful job. The company
filed income tax (IT) returns for companies, its directors and some others, and
in lieu of it received 500 crores. On this, the court asked forensic auditors
to find out the investments of Amrapali and fake house buyers in the projects.
It is possible that the properties have been sold to the Anonymous people so
that the value of the company can be increased.
Remittances from the
accounts were promoter
Forensic Auditors told
that Amrapali has made several companies since 2010 so that funds can be
transferred from one project to another in the face of the provisions of the
Companies Act. Pawan Kumar Agarwal told that the Amrapali Group had done
transactions with 27 other dummy companies and since last year the promoters of
Amrapali had started withdrawing funds from the bank accounts of these
companies.
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