"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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Vartha Bharati–Sankalp predictions align closely with Karnataka bypoll results
Bengaluru: The Vartha Bharati–Sankalp election analysis has shown a high level of accuracy in predicting the outcome of the recent Karnataka Assembly by-elections held in May 2026, correctly calling winners in both constituencies and closely estimating vote share trends.
The by-elections were held in Bagalkot and Davanagere South, drawing significant political attention as both seats were seen as key tests for the ruling Congress and opposition BJP.
According to the analysis, Vartha Bharati–Sankalp had made three major projections ahead of the results the winning party, vote share percentages, and margin of victory.
In both constituencies, the platform accurately predicted that the Congress would emerge victorious. The outcome matched the projections, with Congress candidates winning in Bagalkot and Davanagere South.
In terms of vote share, the predictions were largely in line with the final results. In Bagalkot, the BJP’s vote share was forecast in the range of 40 to 46 per cent, while the actual figure stood at 42.9 per cent. The Congress vote share, however, exceeded expectations, with the party securing 55.4 per cent against a projected range of 43 to 48 per cent.
The margin of victory in Bagalkot turned out to be significantly higher than anticipated. While the projection had placed the margin between 2,000 and 3,500 votes, the final margin was around 22,332 votes.
In Davanagere South, the predictions also remained largely accurate. The Congress vote share was projected between 43 and 51 per cent, and the final figure stood at 43.9 per cent. The BJP was expected to secure between 42 and 50 per cent but ended with 40.3 per cent.
The analysis had also identified the role of SDPI as a potential spoiler in the constituency. While its vote share was estimated around 6 per cent, the party eventually secured around 12 per cent of the vote.
The margin of victory in Davanagere South was predicted to be between 1,500 and 2,600 votes. The actual margin was higher at around 5,708 votes, though the contest remained relatively close as anticipated.
Overall, the performance of Vartha Bharati–Sankalp stood out for correctly identifying the winning parties in both seats and maintaining close accuracy in vote share estimates, with only limited deviations in specific cases.
