Former Indian cricket captain <a href="https://www.wionews.com/india-news/dhoni-approaches-supreme-court-against-amrapali-for-rs-40-crore-dues-205934">Mahendra Singh Dhoni has moved the&nbsp;Supreme Court</a> fearing cancellation of a penthouse which he bought in an Amrapali project.

Dhoni informed the court that he booked the penthouse in Amrapali Safari in Ranchi, and he has also engaged as the brand ambassador for promoting projects of the group, a media report said.

The auditors informed the apex court that Dhoni was among the&nbsp;buyers who got flats at throwaway prices in Amrapali. To which Dhoni replied that he has also suffered like any other flat buyers as he did not receive the payments and that his name should also be added in the list of creditors of the real estate company.

Last month, Dhoni had&nbsp;approached the Supreme Court seeking a direction to the Amrapali Group to settle his dues of &nbsp;Rs 40 crore towards his service to the real estate company as its brand ambassador.&nbsp;

The cricketer asked the court to allot him a land parcel belonging to the group to protect his financial interest.&nbsp;

Dhoni said that he entered into an agreement with the company to promote their various projects but he was not paid for his endorsements to the tune of 38.95 crore due to him.

Former Indian cricket captain Mahendra Singh Dhoni has moved the Supreme Court fearing cancellation of a penthouse which he bought in an Amrapali project. Dhoni informed the court that he booked the penthouse in Amrapali Safari in Ranchi, and he has also engaged as the brand ambassador for promoting projects of the group, a media report said.

Former Indian cricket captain Mahendra Singh Dhoni has moved the Supreme Court fearing cancellation of a penthouse which he bought in an Amrapali project. Dhoni informed the court that he booked the penthouse in Amrapali Safari in Ranchi, and he has also engaged as the brand ambassador for promoting projects of the group, a media report said. The auditors informed the apex court that Dhoni was among the buyers who got flats at throwaway prices in Amrapali. To which Dhoni replied that he has also suffered like any other flat buyers as he did not receive the payments and that his name should also be added in the list of creditors of the real estate company. Last month, Dhoni had approached the Supreme Court seeking a direction to the Amrapali Group to settle his dues of Rs 40 crore towards his service to the real estate company as its brand ambassador. The cricketer asked the court to allot him a land parcel belonging to the group to protect his financial interest. Dhoni said that he entered into an agreement with the company to promote their various projects but he was not paid for his endorsements to the tune of 38.95 crore due to him.

MS Dhoni moves Supreme Court for possession of flat in Amrapali project

The Supreme Court today sent three Amrapali real estate Group Directors - Anil Kumar Sharma, Shov Priya and Ajay Kumar - in police custody after it&nbsp;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.&nbsp;

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.

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.

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.

Supreme Court sends Amrapali directors to police custody

Embattled real estate firm Amrapali group has approached the Supreme Court seeking its permission to rope in other builders to complete its various housing projects and hand over possession of flats to the hassled homebuyers.

The company, which is facing insolvency proceedings initiated by the creditor bank for not repaying the loan, said in an affidavit in the top court that it was not in a position to complete the projects and hand over possession of flats to over 42,000 home-buyers in a time-bound manner and the properties were needed to be developed with the help of co-developers.

It claimed that many firms have expressed interest in taking over and completing these housing projects.

&ldquo;Apart from the massive inventory which has been sold and is at various stages of development, the ongoing projects of Amrapali group have vacant land available (earmarked for future development) which can be developed with the assistance of co-developers and, subsequently, sold to prospective buyers.

&quot;This would provide for the necessary liquidity and cash flows for payment to the creditors and also investments in projects that unfortunately have negative cash flows,&rdquo; the company said in its affidavit.

It urged the court to allow co-developers &quot;to come in to construct, develop and deliver homes in certain under-construction projects of the group.&rdquo;

&quot;The plan will not only provide for speedy construction of houses but would also facilitate and ensure payments to all the creditors, including those who have already approached the NCLT for insolvency proceedings,&quot; it said.

A bench of Justices Arun Mishra and Amitava Roy had on January 31 asked the firm to submit a comprehensive plan with a time line on how it would complete its pending projects.

It had also asked the authorities of Noida and Greater Noida, Committee of Creditors, the Interim Resolution Professional (IRP) and other parties to file their responses to the proposal submitted by the company.

The bench had said this was a &quot;serious issue&quot; and a &quot;complicated case&quot; wherein it has to go into the details of the money paid by home buyers and the loans and mortgage made to secure that loan.

Amrapali&#39;s counsel had said one Galaxy Developers has come forward to develop the flats in a timely manner.

The National Company Law Tribunal (NCLT) had earlier admitted insolvency proceedings against Amrapali Group and appointed an interim resolution professional to manage the affairs of the company on September 4 last year.

The top court is hearing a batch of pleas filed by flat buyers who have sought quashing of the September 4 last year&#39;s NCLT order and said the moratorium imposed under the provisions of the Insolvency and Bankruptcy Code, 2016, is violative of Article 14 (equality before law) of the Constitution.&nbsp;

The company, which is facing insolvency proceedings initiated by the creditor bank for not repaying the loan, said in an affidavit in the top court that it was not in a position to complete the projects and hand over possession of flats to over 42,000 home-buyers in a time-bound manner

Embattled real estate firm Amrapali group has approached the Supreme Court seeking its permission to rope in other builders to complete its various housing projects and hand over possession of flats to the hassled homebuyers. The company, which is facing insolvency proceedings initiated by the creditor bank for not repaying the loan, said in an affidavit in the top court that it was not in a position to complete the projects and hand over possession of flats to over 42,000 home-buyers in a time-bound manner and the properties were needed to be developed with the help of co-developers. It claimed that many firms have expressed interest in taking over and completing these housing projects. “Apart from the massive inventory which has been sold and is at various stages of development, the ongoing projects of Amrapali group have vacant land available (earmarked for future development) which can be developed with the assistance of co-developers and, subsequently, sold to prospective buyers. "This would provide for the necessary liquidity and cash flows for payment to the creditors and also investments in projects that unfortunately have negative cash flows,” the company said in its affidavit. It urged the court to allow co-developers "to come in to construct, develop and deliver homes in certain under-construction projects of the group.” "The plan will not only provide for speedy construction of houses but would also facilitate and ensure payments to all the creditors, including those who have already approached the NCLT for insolvency proceedings," it said. A bench of Justices Arun Mishra and Amitava Roy had on January 31 asked the firm to submit a comprehensive plan with a time line on how it would complete its pending projects. It had also asked the authorities of Noida and Greater Noida, Committee of Creditors, the Interim Resolution Professional (IRP) and other parties to file their responses to the proposal submitted by the company. The bench had said this was a "serious issue" and a "complicated case" wherein it has to go into the details of the money paid by home buyers and the loans and mortgage made to secure that loan. Amrapali's counsel had said one Galaxy Developers has come forward to develop the flats in a timely manner. The National Company Law Tribunal (NCLT) had earlier admitted insolvency proceedings against Amrapali Group and appointed an interim resolution professional to manage the affairs of the company on September 4 last year. The top court is hearing a batch of pleas filed by flat buyers who have sought quashing of the September 4 last year's NCLT order and said the moratorium imposed under the provisions of the Insolvency and Bankruptcy Code, 2016, is violative of Article 14 (equality before law) of the Constitution.

Amrapali seeks Supreme Court nod to rope in other builders to complete projects

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