Supreme Court sends Amrapali directors to police custody

WION Web Team New Delhi, Delhi, India Oct 09, 2018, 03.30 PM(IST)

File photo of Supreme Court of India. Photograph:( Reuters )

Story highlights

The Supreme Court said the company was asked on September 26 to handover all documents within 24 hours.

The Supreme Court today sent three Amrapali real estate Group Directors - Anil Kumar Sharma, Shov Priya and Ajay Kumar - in police custody after it found the company hadn't submitted documents meant for forensic audit.

India's top court warned the Amrapali that they could no longer play "hide and seek". "You are not complying with the Apex Court's earlier order as far as the forensic audits are concerned," the court said.

The Supreme Court said the company was asked on September 26 to handover all documents within 24 hours.

"You are playing with the dignity of this court," the bench observed and told the directors that "you are deliberately attempting not to comply with the apex court's orders."

The court said the three directors will remain in police custody till each and every document relating to accounts of all 46 group companies were handed over to forensic auditors appointed by it. The court had earlier directed all details inculuding bank accounts and balance sheets of all 46 companies, including Jotindra Steel, since 2008 be handed over forensic auditors. 

Last month, the Supreme Court had appointed state-run NBCC to develop stalled projects of Amrapali.

The top court had directed the opening of an escrow account in the apex court in which the amount received after the sale of properties would be deposited and disbursed to the National Buildings Construction Corporation Ltd (NBCC) to start construction.

The court had observed that Rs 1,590 crore could be generated from the sale of unsold inventory and had said “Dharmendra Singh Rathore, officer of the DRT is entrusted with the sale of properties mentioned in the list of commercial properties”.

The court had also directed Amrapali chairman and Managing Director Anil Kumar Sharma to withdraw his affidavit giving details of assets and why properties worth Rs 847.88 crore had come to Rs 67 crore in a span of four years.