SPIDEY BUZZ

SC allows arrest of Amrapali CMD, other directors for interrogation

By Praveen Dwivedi
Photo: Samrat Roy
Posted: Feb 28, 2019

The Supreme Court on Thursday permitted Delhi Police to arrest CMD of Amrapali Group Anil Sharma with two other directors. Shama was already detained to cooperate in the forensic audit of the firm. The Apex court took action on a criminal complaint filed against them.

Now, the police have been allowed to interrogate them in the cheating case lodged with the Economic Offence Wing (EoW).

The top court also ordered attachment of personal properties of Sharma and others. They have also allowed the EoW to arrest other Amrapali directors – Shiv Kumar and Ajay Kumar. They were in the custody of the UP police since October 9.

A bench of Justices Arun Mishra and UU Lalit said, “We never restricted the arrest. They have been kept in the custody of UP police at a hotel.” The apex court has been acting on a batch of petitions filed by home buyers whose possession of flats have been delayed due to the cases.

One of the petitioners, Ritesh Singh talking to City Spidey said, “Now, the EoW will interrogate the arrested directors under the criminal case filed against them. They were earlier detained for cooperating in the case. Now, they will be interrogated by the police.”

The homebuyers were ecstatic when CMD and other directors were detained by UP police on the orders of the court. They hoped that things will materialise and they would soon get an idea about the time frame of getting the possession of the flats.

Amrapali Group is yet to deliver around 42,000 flats in 10 housing projects in Gautam Budh Nagar.

Last year, Bank of Baroda had filed an insolvency petition before the National Company Law Tribunal (NCLT) after Amrapali failed to repay a loan of Rs 56 crore.

The move caused panic among home buyers as according to them, their investment would not be protected under the insolvency and bankruptcy code as NCLT would give preference to banks before buyers.

In September 2017, a group of homebuyers from Noida had filed a plea in the Supreme Court seeking protection of their investments.

TAGS: Arrest of Amrapali CMD / Arrest of Amrapali directors / Amrapali case / Possession of Amrapali flats / Noida news

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