Three Directors Of Amrapali Group Sent To Police Custody [Read Order]

The Supreme Court on October 9, 2018, has sent three directors of the Amrapali group to police custody, directing them to hand over all the documents of the 46 group companies to forensic auditors.

A Bench of Justices Arun Mishra and U U Lalit sending three directors -  Anil Kumar Sharma, Shiv Priya and Ajay Kumar to the police custody has said that they will remain in police custody till they hand over all the documents.

The apex court's order came on a batch of petitions filed by home buyers who are seeking possession of around 42,000 flats.

The court noting that the conduct of the directors was in gross violation of its order said that you are playing hide and seek. You are trying to mislead the court.

It directed the Delhi police to seize all the documents of the Amrapali group and hand them over to forensic auditors, emphasising that not a single document of these companies should remain in custody of the group.

Earlier, the apex court had permitted the National Buildings Construction Corporation Ltd (NBCC) to float tenders for selecting the builder to complete the stalled projects of Amrapali Group and asked it to prepare a detailed project report for pending projects within 60 days.

Further, the court had also 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 later disbursed to the NBCC to start construction of the pending projects in Group A and B Categories.

The NBCC had earlier given a proposal for completion of 15 residential projects of Amrapali having 46,575 flats at an estimated cost of Rs 8,500 crore in six to 36 months.