New Delhi: The Supreme Court on Tuesday ordered four properties linked to Amrapali Group to be put under the hammer and directed the sale proceeds to be deposited with the Court Registry. The order came on a report prepared by the court-appointed forensic auditors, which found a total of six companies formed by Amrapali Group only to acquire properties using the money invested by homebuyers. No substantial capital investment was made in these companies, said a report prepared by the auditors Ravi Bhatia and Pawan Kumar Agarwal.

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The court zeroed in on four properties based on this input. These included a 75-bedded Amrapali Hospital at Omega 1, Greater Noida; Villa no 55, Aqua Fortis, Goa, held in the name of Eklavya Building Solutions Pvt Ltd registered at Delhi’s Surajmal Vihar; three towers housing corporate office of Amrapali in Sector 62, Noida; and the registered office of Gaurisuta Buildhome Private Limited situated at E-17, Greater Noida.

The bench of Justices Arun Mishra and U U Lalit directed immediate sealing of these premises and asked the debt recovery tribunal to initiate auction of these properties. The bench directed the auction proceeds to be deposited with the SC Registry. In addition, the court even directed the former chief financial officer (CFO) Chander Prakash Wadhwa and statutory auditor Anil Mittal to deposit with the Court Registry cash worth Rs 12 crore they received from companies linked to Amrapali.

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Supreme Court puts four Amrapali properties on the block