2,000-page report reveals Amrapali group 's closer association with MS Dhoni
Last week, Indian cricket star Mahendra Singh Dhoni approached the apex court appealing against fraud-hit real estate developer Amrapali group claiming unpaid dues of Rs 40 crore for brand endorsements.
However, a 2,000-page report submitted to the Supreme Court (SC) by forensic auditors examining the case may cast some suspicion on the ace cricketer and his wife, since the latter was one of the directors of one of the subsidiaries used to divert funds.
The report, submitted by SC-appointed auditors Ravi Bhatia and Pawan Aggarwal, said the group set up more than 100 shell companies in the names of officials, which was used to divert funds worth Rs 3,000 crore. Incidentally, Mahendra Singh Dhoni’s wife was a director of one such shell company, with the group’s promoters also running a charitable hospital in the name of Dhoni.
The auditor’s report summarized that the collapse of the Amrapali group was not due to a change in market conditions or investment decisions but because of the “wilful criminal actions” of the group’s proprietors.
Last week Dhoni had moved the SC, claiming in his petition that he was not paid his dues for services rendered while being a brand ambassador.
“The builder, the Amrapali group, owes an amount in excess of Rs 38.95 crore of which Rs 22.53 crore is towards the principal amount and Rs 16.42 crore towards interest calculated at 18 per cent simple interest per annum,” Dhoni reportedly added.
However, insiders said that detailed investigation would reveal more “suspected links” and the duo cannot distance itself from the responsibility.
“The cricketer and his wife were too close to the directors to be comfortable now. His wife was one of the directors of the company via which promoters siphoned money. It is difficult to distance them now,” said a former employee of the company, who did not wish to names as the matter is pending in the court.
The Supreme Court is hearing the case and will examine the details in the report on April 9.
Notice to Ansal API for alleged fraud worth Rs 606 crore
The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has issued a show cause notice to real estate firm Ansal API, for diversion of over H600 crore of homebuyers’ money.
The UP-RERA had imposed financial restrictions and ordered a forensic audit of 91 projects of the firm on October 25 last year following complaints from over 400 homebuyers of the Sushant Golf City hi-tech township project in Lucknow.
However, officials of UP-RERA claim that the developer has not yet responded to the notice. A month’s time has been given to the firm to reply.