Amrapali flats booked for sum of Re 1 per sqft

Amrapali flats booked for sum of Re 1 per sqft
17/01/2019 , by , in News/Views

Skeletons kept tumbling out of the closet in the forensic audit of embattled Amrapali Group, as court-appointed auditors on Wednesday told the Supreme Court that posh flats were booked on sums as low as Re 1, Rs 5 and Rs 11 per sqft in the name of over 500 people.

The audit found that 23 companies were floated in the name of office boys, peons and drivers and these firms were part of Amrapali consortium and were made fronts to divert home buyers’ money.

The two forensic auditors told the apex court that they have issued notices to 655 people on whose names ‘benami’ flats were booked but no one was found in 122 such locations.

The interim report of forensic auditors which was submitted before a bench of justices Arun Mishra and U Lalit said that Chief Financial Officer (CFO) ChanderWadhwa had transferred Rs 4.75 crore to “unidentified persons” just three days before he deposed before the top court on October 26, last year.

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