Amrapali’s five-star hotel in Greater Noida to be sold

Amrapali’s five-star hotel in Greater Noida to be sold
19/12/2018 , by , in News/Views

The Supreme Court on Wednesday asked forensic auditors to examine the trail of around Rs 3,000 crore, the home-buyers’ money allegedly spent by the Amrapali Group on buying shares of its sister companies and asset creation.

Amrapali Group CMD Anil Sharma, directors Shiv Priya and Ajay Kumar returned to the court a total amount of Rs 1.55 crore of home buyers money “lying” with them.

The top court grilled several accountants of the group as to how they have prepared the accounts statements which were submitted in the court and on what basis they created the accounts this year for financial years 2015-16, 2016-2017 and 2017-2018.

It directed the forensic auditors to ascertain the numbers of flats which were ‘benami’ property, double-booked or booked on a nominal value by Amrapali Group.

A bench of Justices Arun Mishra and U U Lalit directed Debt Recovery Tribunal, Delhi to conduct the valuation of Amrapali’s five-star hotel Tech Park in Greater Noida and sell it by January end.

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