Supreme Court orders nine properties of Amrapali Group to be sealed -
Supreme Court orders nine properties of Amrapali Group to be sealed
Posted 10 Oct 2018 04:34 PM

In further trouble for beleaguered Amrapali real estate group, which is facing lawsuits by homebuyers, the Supreme Court on Tuesday ordered sealing of nine of its properties where account books of its 46 group companies are kept. A bench of Justice Arun Mishra and Justice U U Lalit ordered the sealing of Amrapali properties in Noida, Greater Noida, Rajgir and Buxar in Bihar and asked the keys to be handed over to the SC registrar.

The SC order came after three directors of the real estate group, who were sent to police custody on Monday, informed the bench that all documents relating to 46 group companies were stacked in the nine properties.

Anil Kumar Sharma, Shiv Priya and Ajay Kumar were sent to police custody after they failed to hand over all the documents related to the accounts of the companies to the forensic auditors twice — on September 12 and 26. The court clarified that it was “not arresting them” and that police presence was only till the documents are seized and handed over.

The apex court further said that only court-appointed forensic auditors and their authorised representatives could enter the premises of the nine properties to be sealed. On September 12, the apex court had appointed Ravi Bhatia and Pawan Kumar Agarwal to conduct forensic audit of the group’s accounts.

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