August 26, 2019

Supreme Court Directs Amrapali Group’s Forensic Audit Report To Be Given To ED, Delhi Police And The ICAI

[ By Bobby Anthony ]


The Supreme Court has directed that a forensic audit report of the Amrapali group must be handed over to the Enforcement Directorate, the Delhi Police and the Institute of Chartered Accountants of India (ICAI).

Handing over the forensic audit report alone would ensure that appropriate action could be taken against Amrapali group’s directors as well as auditors for siphoning off more that Rs 3,000 crore of money from home buyers, the court stated.

The court directed its registry to disburse Rs 7.16 crore deposited by the Amrapali group to the National Buildings Construction Corporation (NBCC) for completion of the Amrapali group’s stalled projects.

It directed the Noida and Greater Noida authorities to set up a nodal cell to issue a completion certificate to home buyers.

Authorities have also been directed to depute an official not below the rank of deputy manager to co-ordinate with court receiver and senior advocate R Venkataramani, to deal with affairs of the Amrapali group.

Earlier on August 13, the court had asked Noida and Greater Noida authorities to grant completion certificates to thousands of harassed home buyers residing in various Amrapali projects in compliance with its verdict. It had also warned that officials concerned would be sent to jail if they failed to comply with its verdict.

It may be recalled that on July 23, the Supreme Court had cancelled the registration of the Amrapali Group under the real estate law RERA and ousted it from its prime properties in the National Capital Region (NCR).

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