The CBI has registered an FIR against Amrapali Leisure Valley Developers Pvt Ltd and its director Anil Sharma, among others. According to information received from officials on Friday (20 May 2022), the CBI has registered a fraud case against Amrapali Group for cheating Bank of Maharashtra and Andhra Bank of more than Rs 230 crore.
The FIR alleges that banks had sanctioned loans for construction of housing buildings on 1.06 lakh square meters of land in Tech Zone IV in Greater Noida, Uttar Pradesh. On 31st March, 2017 the account of Amrapali Leisure Valley Developers Pvt Ltd has been declared as Non-Performing Asset. Bank of Maharashtra had alleged that the bank has suffered a loss of more than Rs 230.97 crore due to the company.
Diversion of crores of rupees: Some flat buyers of Amrapali Group had approached the Supreme Court over non-delivery of promised flats in Noida and Greater Noida. The company had promised to build and sell 42,000 flats here. The Supreme Court had ordered forensic audit of the company’s affairs. Following which it emerged that Amrapali Group had diverted Rs 5,619 crore through different companies – Amrapali Leisure Valley Developers Pvt Ltd, Amrapali Homes Projects Pvt Ltd, Ultra Home Construction Pvt Ltd and Amrapali Grand.
ED investigating with CBI: This fund was transferred before Amrapali was declared bankrupt. The Supreme Court and the National Company Law Tribunal have declared the companies of Amrapali Group as insolvent and attached the properties of the directors. Along with CBI, Economic Offenses Wing of Delhi Police and ED are also investigating in this case. National Building Construction Corporation (NBCC) is constructing 30,000 flats in Amrapali.
CBI raids the premises of Amrapali: The CBI raided the premises of Amrapali on Friday (May 20). During this, the CBI scrutinized the files of crores of rupees transferred by the Amrapali builder. CBI took this action at 29 locations including Noida, Bihar, Jharkhand, Delhi of the builder. ED and EOW are also investigating in this matter. CBI raided the office of Amrapali Society in Sector-44, Noida.