NEW DELHI: A day after the Supreme Court cancelled the registration of Amrapali Group under new real estate law RERA (Real Estate Regulatory Authority), information has emerged that forensic auditors told the apex court that cricketer Mahendra Singh Dhoni and his wife Sakshi Dhoni’s companies were used by Amrapali to divert home buyers’ money, and that money should also be recovered from them.
Calling it “sham” deals, the auditors said Amrapali Group wrongly sent money to Amrapali Mahi Developers Private Limited and Rhiti Sports Management Private Limited. Sakshi is reportedly the director of Amrapali Mahi and Dhoni holds a major stake in Rhiti.
Based on the audit reports, the Supreme Court Bench of Justices Arun Mishra and UU Lalit observed that Amrapali home buyers’ money has been diverted illegally and wrongly to Rhiti Sports Management.
The Bench noted that the Amrapali Group of Companies paid Rs 422.2 million to Rhiti Sports Management between 2009 and 2015. Of this, Rs 65.2 million was paid by Amrapali Sapphire Developers Pvt Ltd.
The sum was paid on account of agreements executed by Anil Kumar Sharma, CMD of Amrapali Group of Companies, with Rhiti Sports Management.
“We feel that home buyers money has been diverted illegally and wrongly to Rhiti Sports Management Private Limited and should be recovered from them as the said Agreement in our opinion does not stand the test of Law,” Outlook quotes the forensic audit report as stating.
The report also raised concerns over the 2015 agreement between Amrapali and Rhiti over the branding of Chennai Super Kings, as it had no signatories on behalf of Indian Premier League (IPL).
Dhoni was the brand ambassador of Amrapali Group until 2016. In March, he dragged the debt-ridden realty firm to the SC, seeking pending dues of nearly Rs 400 million, Business Today reports. He had signed various agreements with the Amrapali in 2009. Amrapali was also given exclusive rights to use his endorsement in marketing and for PR activities.
The Supreme Court on Tuesday cancelled Amrapali Group’s registration under RERA and the lease of its properties granted by Noida and Greater Noida authorities. It also appointed the National Buildings Construction Corporation (NBCC) to complete all its pending projects. The Bench also appointed senior advocate R Venkataramani as the court receiver in whom the rights of all the Amrapali properties will be vested after the cancellation of the lease. The bench said the home buyers’ money was diverted in violation of the Foreign Exchange Management Act (FEMA) and foreign direct investment (FDI) norms.
IANS further reports:
The Court pointed out other various agreements endorsed between the companies on November 22, 2009, according to which Dhoni will make himself available to the Chairmen for three days along with one representative of Rhiti Sports.
According to the Agreement for sponsorship dated March 20, 2015, Amrapali Group of Companies got the right to advertise as Logo Space at various places in the IPL 2015 for Chennai Super Kings.
“It is observed that this agreement is on plain paper and executed only between Amrapali and Rhiti Sports Management Pvt Ltd and there are no signatories on behalf of Chennai Super Kings to this agreement,” the court noted.
No resolution in favour of Arun Pandey, Signatory of Rhiti Sports, is attached with the agreement.
“This clearly shows that these agreements have just been made for payment of amounts to Rhiti Sports Management Pvt Ltd Co and are sham agreements and made just for making payments to Rhiti Sports Management Pvt Ltd,” the court said.
“We feel that home buyers money has been diverted illegally and wrongly to Rhiti Sports Management Pvt Ltd and should be recovered from them as the said agreement in our opinion do not stand the test of law.”
Dhoni was a brand ambassador for Amrapali Group until three years ago.
Dhoni’s wife Sakshi Singh was then a director of Amrapali Mahi Developers Pvt Ltd, a company incorporated for developing a project in Ranchi. An MoU was also entered between the parties though the court was not provided a copy of that.
The court said in its order that in Amrapali Sapphire Developers Pvt Ltd, a flat had been booked in the name of Rhiti Sports by passing an adjustment entry.
However Sanjay Pandey of Rhiti Sports denied booking any such flat. Pandey also confirmed that neither the company nor any individual had any flat in Amrapali Group.
