Auditor who exposed Harshad Mehta scam to carry out forensic audit of Amrapali Group
6 years, 4 months ago

Auditor who exposed Harshad Mehta scam to carry out forensic audit of Amrapali Group

Firstpost  

The top court had also brought CMD of Amrapali Group Anil Sharma under its scanner for declaring his assets worth Rs 67 crore, as against Rs 847 crore, in his election affidavit filed during the 2014 Lok Sabha polls New Delhi: The Supreme Court said on Wednesday that the two auditors it has appointed for forensic audits of Amrapali Group companies as also the assets of its directors since 2008 are “experienced and reputed” and one of them had even exposed the infamous Harshad Mehta scam. A bench of Justices Arun Mishra and U U Lalit have appointed two auditors – Ravi Bhatia of Bhatia and Company; and Pawan Kumar Aggarwal of Sharp and Company – to conduct the forensic audits of Amrapali Group companies. The top court also appointed NBCC to develop the stalled projects and directed Debts Recovery Tribunal of Delhi to sell the unencumbered commercial properties of real estate firm Amrapali Group. The top court had also brought CMD of Amrapali Group Anil Sharma under its scanner for declaring his assets worth Rs 67 crore, as against Rs 847 crore, in his election affidavit filed during the 2014 Lok Sabha polls.

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History of this topic

Hours after ED raids, CBI summons audit company employee Gaurav Mehta in Bitcoin scam case
Trending News
1 month, 3 weeks ago

Hours after ED raids, CBI summons audit company employee Gaurav Mehta in Bitcoin scam case

New Indian Express  

NEW DELHI: The CBI on Wednesday summoned Gaurav Mehta, an audit company employee, in connection with the over Rs 6,000-crore Gain Bitcoin ponzi scam case registered by the agency on the directions of the Supreme Court, officials said. The agency has taken over the investigation into cases related to the Gain Bitcoin Ponzi scheme registered by various state police all …

Hours after ED searches, CBI summons audit company employee Gaurav Mehta in Bitcoin scam case
Trending News
1 month, 3 weeks ago

Hours after ED searches, CBI summons audit company employee Gaurav Mehta in Bitcoin scam case

New Indian Express  

NEW DELHI: The CBI on Wednesday summoned Gaurav Mehta, an audit company employee, to appear before it as soon as possible in connection with the Rs 6,600-crore Gain Bitcoin ponzi scam case, officials said. The Central Bureau of Investigation, which is probing the Gain Bitcoin ponzi "scam" on the directions of the Supreme Court, swung into action hours after the …

ED conducts search operations in Nagpur, Kolkata, Vishakhapatnam in ₹4,000 crore bank loan fraud case
5 months ago

ED conducts search operations in Nagpur, Kolkata, Vishakhapatnam in ₹4,000 crore bank loan fraud case

The Hindu  

The Enforcement Directorate’s Nagpur sub-zonal office carried out three days of search operations from August 12 to August 14 at 14 official and residential premises in Nagpur, Kolkata, and Vishakhapatnam as part of a money laundering investigation. ED officials said on Wednesday they are investigating a bank loan fraud by M/s Corporate Power Limited and its promoters and directors: Manoj …

ED attaches Amritsar firms’ properties worth ₹27 crore in bank fraud case
10 months, 2 weeks ago

ED attaches Amritsar firms’ properties worth ₹27 crore in bank fraud case

Hindustan Times  

The Enforcement Directorate has provisionally attached immovable properties in the form of land, plant and machinery worth ₹27.54 crore of Amritsar-based firms in connection with bank fraud cases. An ED spokesperson in a press release issued on Thursday said the properties belong to Snehal Enterprises, Viroo Mal Mulakh Raj Jain Rice Mills Pvt Ltd and some individuals, Nitin Jain, Neetu …

Amrapali buyers: Over 11K flats to be given possession in 2-3 months
2 years, 3 months ago

Amrapali buyers: Over 11K flats to be given possession in 2-3 months

Live Mint  

In a big relief to the hassled home buyers of Amrapali Group, the Supreme Court was informed that 11,858 flats will be delivered in 2-3 months of which 5, 428 units will be handed over the possession in October. A bench of Chief Justice UU Lalit and Justice Bela M Trivedi was informed by court receiver senior advocate R Venkataramani …

Bombay HC stays investigation in Sony Pictures' criminal defamation case against Scam 1992
3 years, 4 months ago

Bombay HC stays investigation in Sony Pictures' criminal defamation case against Scam 1992

India Today  

The division bench of Justices SS Shinde and NJ Jamadar of the Bombay High Court have stayed the Pune police investigation against owner of SonyLIV app, Sony Pictures Network India Pvt Ltd, in a case registered against them. An FIR was registered by Karad Urban Co-operative Bank stating trademark infringement in Scam 1992 series. BOMBAY HIGH COURT GIVES RELIEF TO …

CBI books Amrapali Biotech, directors in alleged ₹48 crore bank fraud
3 years, 5 months ago

CBI books Amrapali Biotech, directors in alleged ₹48 crore bank fraud

Live Mint  

The Central Bureau of Investigation has filed an FIR against Amrapali Biotech and its directors over allegations of duping Punjab National Bank to the tune of ₹47.97 crore. The original bank of concern was Oriental Bank of Commerce, which was merged with Punjab National Bank, with effect from April 1, 2020, under the mass public-sector banks' consolidation. The Central Bureau …

Scam 1992 Review: The Harshad Mehta Story is a Salute to Bombay's Indomitable Spirit
4 years, 3 months ago

Scam 1992 Review: The Harshad Mehta Story is a Salute to Bombay's Indomitable Spirit

News 18  

Scam 1992: The Harshad Mehta Story Cast: Pratik Gandhi, Shreya Dhanwanthary, Anant Mahadevan, Rajat Kapoor, Hemant Kher Director: Hansal Mehta Scam 1992: The Harshad Mehta Story traverses highs and lows in the life of a promising entrepreneur who would later introduce the word scam to the public of India. In showing Harshad’s life, Scam 1992 does not paint a target …

ED attaches assets of frauds accused in Rs 2,066 crore money laundering scam
4 years, 3 months ago

ED attaches assets of frauds accused in Rs 2,066 crore money laundering scam

India Today  

The Enforcement Directorate has provisionally attached proceeds of crime worth Rs. 11.85 crores in the form of movable properties belonging to main promoters in the case of Surya Vinayak Industries Ltd. and its group companies under the Prevention of Money Laundering Act, 2002 in a bank fraud case. The case has been filed against Surya Vinayak Industries Ltd., Sanjay Jain, …

Dhoni should also be made an accused in Amrapali scam: Complainants
5 years, 1 month ago

Dhoni should also be made an accused in Amrapali scam: Complainants

Live Mint  

Troubles seem to be piling up for former India skipper Mahendra Singh Dhoni. Complainants against the Amrapali Group, which is accused of diverting thousands of crores of home buyers' money, have sought that Dhoni should also be made an accused, with the FIR filed by the Delhi Police's Economic Offences Wing on November 27 clearly stating this demand. The FIR …

Amrapali group directors booked in cheating case
5 years, 5 months ago

Amrapali group directors booked in cheating case

India TV News  

The Economic offence Wing of Delhi Police on Wednesday registered a case of cheating against directors of the Amrapali Group, said officials. The case was registered on the complaint of Anurag Sahay, who had booked a flat with Amrapali group but was not delivered the same within the promised deadline, said police. In his complaint, Sahay had said the Amrapali …

Amrapali Group firms bought gold with homebuyers' money
5 years, 5 months ago

Amrapali Group firms bought gold with homebuyers' money

India Today  

As the Supreme Court passed a landmark judgement in the Amrapali case and ordered the Enforcement Directorate to register a money laundering case against the group's officials for fraud, the top court's latest hearing opened a can of worms in the realty firm's operations. Among several other instances of fund diversion and illegitimate use of homebuyers' hard-earned money, the Amrapali …

Here's how Amrapali Group cheated home buyers to divert money to Dhoni-linked Rhiti Sports
5 years, 5 months ago

Here's how Amrapali Group cheated home buyers to divert money to Dhoni-linked Rhiti Sports

India TV News  

More details of how the Amrapali Group owners diverted homebuyers money to Rhiti Sports have emerged. PTI reports that Amrapali Group had entered into "sham agreements" with Rhiti Sports Management Pvt Ltd, which promotes the brand of Indian cricketer Mahendra Singh Dhoni, to "illegally divert" home buyers money, the court-appointed forensic auditors have told the Supreme Court. "This clearly shows …

Amrapali Group had paid Rs 36 lakh to ICC chief Shashank Manohar; Supreme Court orders ED investigation
5 years, 5 months ago

Amrapali Group had paid Rs 36 lakh to ICC chief Shashank Manohar; Supreme Court orders ED investigation

India TV News  

The Supreme Court in its judgement on Amrapali Group said Anil Kumar Sharma, CMD of Amrapali Group of Companies had paid Rs 36 lakh to ICC Chairman Shashank Manohar. The top court has also ordered the Enforcement Directorate to investigate the issue of money laundering in the real estate group, as Manohar's name features on the list of third parties …

Banks colluded with Amrapali developers in misappropriation of loans for housing projects: Supreme Court
5 years, 5 months ago

Banks colluded with Amrapali developers in misappropriation of loans for housing projects: Supreme Court

Firstpost  

More than 40,000 homebuyers are suing Amrapali in a long-running legal battle over delays to projects New Delhi/Mumbai: The Supreme Court on Tuesday said several banks had colluded with Amrapali Developers, one of India’s largest real estate firms, in the misappropriation of loans meant for housing projects. The Supreme Court criticised the lenders for failing to monitor the end-use of …

Supreme Court cancels Amrapali registration, asks NBCC to complete projects
5 years, 5 months ago

Supreme Court cancels Amrapali registration, asks NBCC to complete projects

Deccan Chronicle  

New Delhi: In a landmark judgment that came as a huge relief to 46,000 stranded home buyers, the Supreme Court on Tuesday ousted Amrapali Group from its prime properties and handed over the projects to state-run NBCC. The apex court, which cancelled the registration of Amrapali Group under RERA, directed the Centre and the states to take steps against the …

SC Cancels RERA Registration Of Amrapali; Asks NBCC To Take Over Noida Projects [Read Judgment]
5 years, 5 months ago

SC Cancels RERA Registration Of Amrapali; Asks NBCC To Take Over Noida Projects [Read Judgment]

Live Law  

In a major relief to thousands of homebuyers, the Supreme Court on Tuesday cancelled the registration of Amrapali group under Real Estate Act 2016, and directed the National Building Construction Corporation take over its pending construction projects in Greater Noida and Noida.The bench of Justices Arun Mishra and U U Lalit found that Amrapali group had siphoned. In a major …

May hand over stuck projects to govt bodies for completion, top court warns Amrapali
5 years, 8 months ago

May hand over stuck projects to govt bodies for completion, top court warns Amrapali

Hindustan Times  

The Supreme Court indicated on Wednesday it could take away the Amrapali Group’s ownership of unfinished projects and hand them to government agencies, reiterating that it will protect the interests of tens of thousands of homebuyers after the realty developer failed to deliver flats despite being paid. Approximately 46,000 flats have not been delivered by Amrapali Group companies, which have …

Supreme Court slams Amrapali: You have committed first degree crime
5 years, 8 months ago

Supreme Court slams Amrapali: You have committed first degree crime

Hindustan Times  

The Supreme Court Wednesday noted that Amrapali Group had committed a “first degree crime” by cheating homebuyers and those behind the mess, no matter how powerful they are, would be booked and prosecuted. Amrapali Group claimed that it had received Rs 11,057 crore from the homebuyers and they have constructed five projects in Indirapuram, in Delhi-NCR, and given possession to …

Amrapali's lawyers given flats and penthouses as fees: Forensic auditors to SC
5 years, 8 months ago

Amrapali's lawyers given flats and penthouses as fees: Forensic auditors to SC

India Today  

In yet another startling revelation, the embattled Amrapali Group gave away flats and penthouses as fees to lawyers representing it at various judicial forums, forensic auditors informed the Supreme Court on Thursday. Hearing a batch of home buyers' petitions, a bench of Justices Arun Mishra and U U Lalit ordered all the directors of Jotindra Steel and Tubes Ltd, a …

Amrapali Group committed first degree crime by cheating home buyers: SC
5 years, 8 months ago

Amrapali Group committed first degree crime by cheating home buyers: SC

India Today  

Amrapali Group has committed a "first degree crime" by cheating thousands of home buyers and no matter how powerful the people behind this mess they will be booked and prosecuted, the Supreme Court said Tuesday. Amrapali Group claimed that they had received Rs 11,057 crore from the home buyers and they have constructed five projects in Indirapuram of Delhi-NCR and …

MS Dhoni Moves SC Against Amrapali Group Seeking Protection Of Ownership Right Of Penthouse
5 years, 8 months ago

MS Dhoni Moves SC Against Amrapali Group Seeking Protection Of Ownership Right Of Penthouse

Live Law  

Indian cricketer Mahendra Singh Dhoni has moved the Supreme Court seeking protection of his ownership rights on an over 5,500-square feet penthouse he booked 10 year ago in a project of embattled Amrapali Group.Dhoni filed an application in the court through his lawyer, after receiving a notice from apex court-appointed forensic auditors seeking clarification on certain aspects of the. Indian …

SC Permits Delhi Police To Arrest Amrapali Group CMD And Two Directors
5 years, 10 months ago

SC Permits Delhi Police To Arrest Amrapali Group CMD And Two Directors

Live Law  

The Supreme Court on Thursday allowed the Delhi Police to arrest Amrapali Group Chairman and Managing Director Anil Sharma and two directors, Shiv Priya and Ajay Kumar.The bench comprising Justice Arun Mishra and Justice UU Lalit passed the order on ana applicationfiled by the Deputy Commissioner of Police, Economic Offences Wing, Delhi PoliceAllowing the application, the court clarified,. The Supreme …

SC suspects cartelisation as Amrapali’s 5-star hotel unsold in auction
5 years, 11 months ago

SC suspects cartelisation as Amrapali’s 5-star hotel unsold in auction

Live Mint  

Taking strong exception to two prime properties including a five-star hotel of the embattled Amrapali Group finding no bidders, the Supreme Court on Monday said that prima facie it looks like "cartelisation is at work" and sought to know whether "banks are part of cartels". "There were newspaper reports recently that banks are ready to finance the projects constructed by …

Amrapali Group fund diversion case: Supreme Court orders attachment of firm's five-star hotel, mall and FMCG company
6 years, 1 month ago

Amrapali Group fund diversion case: Supreme Court orders attachment of firm's five-star hotel, mall and FMCG company

Firstpost  

Amrapali Group CMD Anil Sharma, in an affidavit in the Supreme Court, revealed that he and his family members received crores of rupees over the years as ‘salary and professional charges The Supreme Court on Wednesday ordered attachment embattled real estate company Amrapali Group’s properties including a five-star hotel, corporate office, mall, FMCG company, a media report said. Amrapali Group …

26 years on, Bombay high court acquits 10 accused in Harshad Mehta securities scam
6 years, 2 months ago

26 years on, Bombay high court acquits 10 accused in Harshad Mehta securities scam

Hindustan Times  

Twenty-six years after the stockbroker Harshad Mehta-led securities scam shook the nation, the Bombay high court on Thursday acquitted seven officers of the State Bank of India and State Bank of India Capital Markets Limited and three others of duping SBI Caps to the tune of ₹105 crore. Twenty six years after stockbroker Harshad Mehta-led securities scam shook the nation, …

Supreme Court orders nine properties of Amrapali group be sealed, allows only auditors to enter premises
6 years, 3 months ago

Supreme Court orders nine properties of Amrapali group be sealed, allows only auditors to enter premises

Firstpost  

The three directors of Amrapali moved an application before a bench comprising Justices UU Lalit and DY Chandrachud stating that they were willing to hand over all the documents but the police was unaware about which one needed to be seized. New Delhi: The Supreme Court on Wednesday ordered the sealing of nine properties of embattled real estate company Amrapali …

SC Orders Sealing Of Nine Properties Of Amrapali Where Documents Sought By Forensic Authorities Are Kept [Read Order]
6 years, 3 months ago

SC Orders Sealing Of Nine Properties Of Amrapali Where Documents Sought By Forensic Authorities Are Kept [Read Order]

Live Law  

The Supreme Court directed the police to seal nine properties of real estate group Amrapali where the documents required by forensic authorities are reportedly kept.The bench comprising Justice Uday Umesh Lalit and Justice Dhananjaya Y Chandrachud issued this directive as the counsel for these directors agreed to give an undertaking before the. The Supreme Court directed the police to seal …

Supreme Court action against Amrapali directors sends the right message to home buyers
6 years, 3 months ago

Supreme Court action against Amrapali directors sends the right message to home buyers

Firstpost  

Apparently, the Supreme Court suspects huge diversion of funds and hence it is looking beyond the companies themselves to retrieve the money to the extent possible for the beleaguered and hapless home buyers. The Supreme Court on 9 October 2018 warmed the cockles of home buyers in general and buyers from Amrapali group in particular. Apparently, the apex court suspects …

"You Are Playing Hide And Seek", SC Sends 3 Directors Of Amrapali Group To Police Custody [Read Order]
6 years, 3 months ago

"You Are Playing Hide And Seek", SC Sends 3 Directors Of Amrapali Group To Police Custody [Read Order]

Live Law  

The Supreme Court Tuesday 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 took exception to the Amprapali group not handing over all the documents to forensic auditors and said that they will remain …

SC Orders Attachment Of Bank A/c, 40 Movable Properties Of Real Estate Major Amrapali
6 years, 5 months ago

SC Orders Attachment Of Bank A/c, 40 Movable Properties Of Real Estate Major Amrapali

Live Law  

“Does your client feel that they are above everybody? Ask them not to play hide and seek with the court”, a bench of justices Arun Mishra and U U Lalit told the group’s lawyer P S Patwalia Pulling them up for “defrauding investors and playing dirty games with the court”, theSupreme Court today. Ask them not to play hide and …

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