Business Standard

SC sends Amrapali CMD, two Directors back to police custody

IANS  |  New Delhi 

The on Thursday again sent the CMD and two Directors of major Amrapali to police custody till documents of all 46 group companies seized for were sorted and catalogued.

Sending CMD and Directors and to police custody, a bench of Justice and Justice said: "We want to know where has Rs 2,600 crore gone? What is the trail of money? Where the money has gone?"

The court said that the three will be present during cataloguing of documents, which CMD said is likely to take 15 days.

The sorting and cataloguing of documents will be done in one office only at any point of time and not simultaneously in different offices.

On the completion of sorting and cataloguing in one office, the activity will shift to another office.

The three were set free a day earlier after sealing of seven premises of the company in Noida and Greater Noida where documents relating to the 46 companies are stocked.

However, as a relaxation, the bench permitted them to stay at their homes for tonight.

The three were directed to report to 62 police station before 8 a.m. on Friday, from where they will be taken in police custody to one of the sealed company offices to commence cataloguing of documents.

During the entire process, likely to last 15 days, de-sealed offices will function from 8 a.m. to 6 p.m.

Thereafter, the said office will be resealed by police and CMD Sharma and two others lodged in They will surrender their to police during their hotel stay.

Cataloguing was ordered after forensic auditors and told the court that documents relating to 46 companies were stacked in gunny bags in places with no power supply or other facilities.

They told the court that unless these documents are sorted out and catalogued, it will be difficult, if not impossible, to proceed with forensic auditing of the accounts of the group's 46 companies.

Amrapali CMD was allowed to solicit the assistance of company staff in sorting and cataloguing of documents. But it should not lead to crowding and exceed a maximum of 20 people. working with Amrapali group too were asked to chip in.

At the outset of the hearing, the court was told that seven offices of the Amrapali group located in Noida and Greater Noida (both in Uttar Pradesh) and two others in Buxar and districts of have been sealed.

The court asked forensic auditors to take a call if they wished to shift the documents kept in Buxar and to to save time.

Meanwhile, the court said that it will hear the suo motu contempt notice issued against the three company officials after four weeks.

On Tuesday, the apex court had sent the three to police custody till they handed over all documents related to their 46 companies to court-appointed forensic auditors.



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First Published: Thu, October 11 2018. 20:14 IST