"Writing is very clear on the wall", SC warns Amrapali Group
New Delhi, Nov 20: "Writing is very clear on the wall", the Supreme Court warned the embattled real estate firm Amrapali Group on Tuesday over its repeated non-compliance and "hood-winking" of the court's order.
The top court asked the realty firm to reveal by December 3 the details of all its properties in the name of directors, their family members, relatives, Chief Financial Officers and statutory auditors in India and abroad.
It gave one last opportunity to Amrapali Group and its directors and promoters to comply with each and every direction passed by the court since May last year.
A bench of Justices Arun Mishra and U U Lalit said that Amrapali Group will have to disclose each and every detail and activity including financial transactions by which home-buyers' money was transferred.
"We make it very clear that Amrapali Group should disclose each and every activity in clear terms it took since 2008 onwards related to the construction of residential, commercial, personal, official and financial where the money was transferred. If all the disclosures are not made by Amrapali Group and its directors then the writing is very clear on the wall," the bench said.
It said the company has to disclose details of assets of all the directors since 2008, assets created in the name of their family members, relatives, Chief Financial Officer and statutory auditors.
The company is responsible for diversion of home-buyers' money, it said.
The court asked the embattled group to furnish details of all the land which has been sub-leased, structures raised on it and the financial benefits to the company.
It directed the banks, Noida and Greater Noida authorities and other bodies concerned to cooperate with the forensic auditors saying that they have been acting on the direction of the court and any non-compliance will be treated as contempt of the court.
It directed the registry of the court to accept Rs 1 crore demand draft given by Amrapali's CFO Chander Wadhwa and asked the group to depute four persons for assisting the forensic auditors in their investigation of company's affair.
The bench posted the matter for further hearing on December 5 and asked the company to file its reply by December 3.
On November 13, in a massive crackdown on Amrapali Group for "wilful disobedience" of its orders, the apex court had attached the company's 100-bed multi-speciality hospital, bank accounts, the building which houses its office, certain firms and a "benami" Villa in Goa.
It had asked the CFO to deposit Rs 11.69 crore with its registry within three weeks. It also asked a statutory auditor Anil Mittal to pay Rs 47 lakh.
It restrained the realty firm from alienating its companies through which it had transactions and ordered attachment of such firms.
The top court has also restrained Amrapali Group from creating any third party rights for 86 luxury cars and SUVs purchased from the company's funds.
It had sought the presence of CMD Anil Sharma and two directors Shiv Priya and Ajay Kumar on November 19 and said that Amrapali Group had deliberately not complied with its earlier order and committed a "serious fraud" by diverting home-buyers' money from one company to other.
It has ordered the attachment of the group's state-of-the-art, multi-speciality, 100-bed hospital situated at Greater Noida for which funds from sister company Ultra Home Construction Pvt Ltd were utilised.
The court has also attached the bank accounts of GauriSuta Infrastructures Pvt Ltd, its director Sunil Kumar and its assets after forensic auditors disclosed that Amrapali transferred home-buyers' money from one firm to sister companies using it as conduit.
Besides, it has ordered attachment of towers which housed the company's office and 'Aqua Fortis' villa in Goa for no one came forward to claim ownership.
On October 31, the apex court had directed the Amrapali Group to disclose the names of all the companies with which it had any kind of transactions after forensic auditors pointed out that there may be a web of more than 200-250 such firms where home-buyers' money was transferred.
The two forensic auditors, appointed by the court to look into the affairs of Amrapali Group had said besides 47 sister companies, they stumbled upon 31 companies whose names were never disclosed by the embattled real estate firm.
It had also initiated contempt proceedings against Sharma and its directors for prima facie violating court's order and thwarting the course of justice. The matter is listed on November 20.
The court is seized of a batch of petitions filed by home buyers who are seeking possession of around 42,000 flats booked in projects of the Amrapali Group.
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India, Ethiopia elevate ties to strategic partnership as PM Modi holds talks with his counterpart
Addis Ababa (PTI): India and Ethiopia on Tuesday elevated their historical ties to a strategic partnership, as Prime Minister Narendra Modi held wide-ranging talks with his Ethiopian counterpart Abiy Ahmed Ali during which they discussed issues of bilateral and mutual interest.
Modi, who arrived here from Jordan on his maiden bilateral visit, was accorded a ceremonial welcome at the National Palace ahead of the bilateral talks, reflecting the vibrant India-Ethiopia relations rooted in shared history and a promising future.
"We are elevating India and Ethiopia relations to a strategic partnership. This step will provide new energy, new momentum and new depth to our ties," Prime Minister Modi said during the delegation-level talks.
He thanked PM Ali for his support in India's fight against terrorism. "The support of friendly countries in this struggle against terrorism holds great significance," Modi said.
"Today, we got the opportunity to deliberate on the key aspects of our cooperation, such as economy, innovation, technology, defence, health, capacity-building and multilateral cooperation. I am pleased that today, we have decided to double the student scholarship for Ethiopia in India," Modi said.
Modi said that India and Ethiopia have shared contact, dialogue, and exchange for thousands of years. The two countries, which are rich in languages and traditions, are symbols of unity in diversity, he added.
"Both countries are democratic powers committed to peace and the welfare of humanity. We are co-travellers and partners of the Global South. On international platforms, we have stood shoulder-to-shoulder," he said.
The two sides signed eight MoUs/agreements, including upgrading ties to 'Strategic Partnership', customs cooperation, establishing data center at the Ethiopian Foreign Ministry, UN Peacekeeping training cooperation, debt restructuring under G20, more ICCR scholarships and AI short courses for Ethiopians, and support for maternal and neonatal healthcare.
Modi said the African Union's headquarters in Ethiopia makes the country a meeting point of African diplomacy. "Inspired by the common vision of an inclusive world, in 2023, India ensured that the African Union became a G20 member," he said.
In 2023, during India’s G20 Presidency, the African Union was admitted as a permanent member of the G20.
Modi said that though this is his first visit, he felt a deep sense of belonging and warmth, reflecting the thousands of years of connection between the two countries.
On his part, Prime Minister Ali said the two countries share over thousands of years of connection through trade, diplomacy, education, culture and even in our food and traditions. "These ties continue to shape a deep friendship, collaboration and mutual respect between our people," he said.
"We also appreciate your consistent message that Africa's priorities must lead the partnership. These kinds of dignified, respectful messages for Africa are very important. Mr Prime Minister, keep pushing. That is the type of message we are expecting from all our trusted friends," Ali said.
He said this aligned fully with Ethiopia's development plan - African-owned, African-led, and African-defined.
"Today, we meet with a clear focus to shape a modern partnership, grounded in sovereignty, self-reliance and practical cooperation. Our cooperation is rooted in equality and South-South solidarity," he said.
"Our economy is performing strongly. Last year, we grew 9.2% and this year we are expecting 10.3% GDP growth. Besides GDP growth, our FDI inflow is also rising big time. India is the leading source for our FDI," he said.
"We have more than 615 Indian companies which are investing in Ethiopia. This all gives our cooperation a strong foundation of trust. I think our decision today that we elevate our historic relationship to a strategic relationship is the right decision," he added.
Ethiopia also conferred its highest award - The Great Honour Nishan of Ethiopia - on PM Modi. He is the first global head of state to receive this award.
Prime Minister Modi also went to the Friendship Park and Friendship Square in Addis Ababa with PM Ali.
In a warm and special gesture, PM Modi was earlier received by his Ethiopian counterpart at the airport and accorded a warm and colourful welcome.
"Ethiopia is a nation with great history and vibrant culture," Modi said.
PM Ali informed his Indian counterpart about the varieties of Ethiopian coffee during informal talks.
"At Addis Ababa airport, took part in a traditional Coffee Ceremony with Prime Minister Abiy Ahmed Ali. The ceremony beautifully highlights Ethiopia’s rich heritage," Modi said.
In a unique gesture, the Ethiopian Prime Minister drove Modi to the hotel.
On the way, he took a special initiative of taking PM Modi to the Science Museum and Friendship Park, which was not in the itinerary.
"Gratitude to Prime Minister Abiy Ahmed Ali for showing me glimpses of Ethiopian history and culture at the National Palace Museum in Addis Ababa. It was a powerful reminder of Ethiopia’s rich traditions," Modi said in a post on X.
The Nobel Peace Prize-winning Ethiopian PM’s special gestures show remarkable respect for Modi, sources said.
"Thank you Ethiopia for a welcome that was unforgettable. The Indian community showed remarkable warmth and affection. India-Ethiopia friendship is going to get even more robust in the times to come," Modi said.
When Modi arrived at the hotel, he was warmly welcomed by the members of the Indian community. Local artists performed dances. Some of them danced on the theme of the popular Hindi song 'Aisa Des Hai Mera' to welcome him.
On Wednesday, Modi will address the Joint Session of Parliament and share his thoughts on India's journey as the "Mother of Democracy" and the value that the India-Ethiopia partnership can bring to the Global South.
PM Modi arrived in Ethiopia from Jordan, where he held a one-on-one meeting with King Abdullah II at the Husseiniya Palace on Monday before the delegation-level talks.
India and Jordan also inked MoUs in the fields of culture, renewable energy, water management, digital public infrastructure and twinning arrangement between Petra and Ellora, aimed at giving a major boost to bilateral ties and friendship.
From Ethiopia, Modi will visit Oman on the final leg of this three-nation tour.
