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Home / Corporate Law News / ‘Can’t play Hide & Seek’: SC sends Directors of Amrapali group to Police custody for not handing over Documents for Forensic Audit

‘Can’t play Hide & Seek’: SC sends Directors of Amrapali group to Police custody for not handing over Documents for Forensic Audit

October 9, 2018

On Tuesday, the Supreme Court ordered 3 directors of real estate Amrapali group to be taken into police custody because they had not handed over documents relating to its accounts to forensic auditors.

Amrapali Group
Amrapali Group

A bench of Justice Arun Mishra & Justice UU Lalit said the company directors had been “playing hide & seek” with the court & told the Police to keep the directors – Anil Kumar Sharma, Shov Priya & Ajay Kumar – in custody for as long as the company does not submit its accounts.

The 3 were taken away from the court premises by the Police.

By not providing the documents, the judges said the company directors were “trying to interfere with the administration of justice”.

The Court will hear the case on 24th October.

On 24th September, the Judges had ordered the company to hand over all documents within 24 hours after hearing the company’s former auditor Anil Mittal told the court that over ₹2,900 crore invested by homebuyers was diverted by 9 companies to buy shares in 37 other companies.

The Apex Court was also told that no income tax returns were filed by the company between 2015 & 2018.

The judges have already brought in the state-owned National Buildings Construction Corporation Ltd (NBCC) to complete 16 Amrapali projects in Noida & Greater Noida.

Last month, the court had also appointed a debt recovery tribunal officer to oversee the sale of unencumbered assets of the beleaguered real estate company to raise funds to complete Amrapali’s unfinished housing projects.

The judges had warned the company directors about strict action at earlier hearings also when its lawyer sought time to produce the documents. “Why are you saying this? Do you want your premises sealed? Next time we’ll not wait to hear you,” Justice Lalit said.

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