SC orders sealing of Amrapali's premises in Noida, Greater Noida and Bihar

The order came after the Amrapali Directors inform court that all documents relating to 46 group companies are stacked there.

SC orders sealing of Amrapali's premises in Noida, Greater Noida and Bihar

New Delhi: The Supreme Court on Wednesday ordered sealing of Amrapali Group's seven premises in Noida and Greater Noida and two in Rajgir and Buxar in Bihar.

The order came after the Amrapali Directors inform court that all documents relating to 46 group companies are stacked there.

SC on Tuesday sent Amrapali Group CMD Anil Kumar Sharma, two other directors Shiv Priya and Ajay Kumar – to police custody for not handing over all documents relating to its accounts to forensic auditors.

The court ordered that the three directors will remain in police till each and every document relating to accounts of all 46 group companies are handed over to forensic auditors appointed by the court. "It may take a day to a month, we don't care," SC said.

Home buyers had moved the apex court seeking refund or flats from Amrapali which is facing insolvency proceedings. They have accused the realty firm of fraud and inordinate delays in giving possession of homes.

Coming down heavily on the Amrapali Group, the Apex court said that the real estate company is deliberately attempting not to comply with its orders. "You are playing with the dignity of this court," the SC bench observed.

The SC also asked Advocate Gaurav Bhatia, appearing for Amrapali, as to why the documents related to forensic audits have not been submitted to the auditors yet.

In its last hearing, the SC bench had directed that all the necessary documents from 2008 to till now, which may be in possession of Amrapali Group of companies in addition to statutory auditors be handed over to the forensic auditors

On September 12, the apex court had appointed state-run NBCC to develop stalled projects of the Amrapali Group and directed the Debts Recovery Tribunal to sell the unencumbered commercial properties of the real estate firm.

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