Supreme Court extends Amrapali directors’ police custody

Supreme Court extends Amrapali directors’ police custody

The Supreme Court on Thursday said three directors, including the CMD, of Amrapali group will continue to stay in the police custody for another 15 days for smooth handing over of documents related to the group’s 46 companies.

A Bench led by Justice UU Lalit asked the three Amrapali directors – Anil Kumar Sharma, Shiv Priya and Ajay Kumar – to present themselves before the Noida Police of Sector 62 on Friday morning. It also directed the police to take them to the seven sealed Noida properties where documents will be catalogued. The directors are required to be personally present from 8 am to 6 pm everyday to help forensic auditors sort out bulky documents stored at the sealed locations. The directors later in the evening will be taken to hotel Park Ascent and be permitted restricted use of mobile phones.

The apex court also asked the two forensic auditors – Ravi Bhatia and Pawan Kumar Aggarwal – to complete the task of auditing the balance sheet and affairs of 46 Amrapali group companies in the next 10 weeks.
The apex court had on Wednesday ordered sealing of the real estate company’s nine properties – seven locations in Noida and Greater Noida and two premises in Rajgir and Buxar districts of Bihar – after the directors had informed the judges that documents were stored there.

The directors were taken into the police custody on Tuesday after they played “hide and seek” with the court by not complying with its orders to hand over all documents to forensic auditors.

The court is seized of a batch of petitions filed by homebuyers who are seeking possession of around 42,000 flats booked in various projects of the Amrapali group.

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