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Lucknow13 minutes ago
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In a money laundering case, the court has ordered the transfer of the Chief Finance Officer of Amrapali Groups of Companies, Chandra Prakash Badhwa, to the ED’s custody for four days.
- On July 23, 2019, the Supreme Court ordered the ED to register the case and investigate
In a money laundering case, Chandra Prakash Badhwa, Chief Finance Officer of Amrapali Groups of Companies, has been ordered by the court to be handed over to ED’s custody for four days. This period of its custodial remand began on Saturday evening. He has given this order while approving the application of ED. Earlier, the accused was taken into judicial custody. On Friday, the ED arrested it from Delhi.
ED’s special counsel Kuldeep Srivastava submitted an application seeking police custody remand of the accused for seven days. He said that the accused had sent the money of the flat buyers abroad to JP Morgan Company’s account through four fake companies Neelkanth Build Craft Private Limited, Rudraksha Infra City Private Limited and Mannat Build Craft Private Limited.
Amrapali’s assets worth 140 crore have been seized
The ED has also seized assets worth 140 crore from this company. Counsel Kuldeep had said that the accused has to inquire with regard to other buyers of the flat buyers and in which companies. Also, it has to be confronted by other accused.
The ED has already arrested Anil Kumar Sharma, Shiv Priya and Ajay Kumar as well as Auditor Anil Mittal, directors of Amrapali Groups of Companies in this case. These officers of Amrapali Groups of Companies are accused of colluding with the officials of Noida and Greater Noida Authority to grab about six thousand crore rupees from the flat buyers and make their own property there. The ED is investigating the matter by order of the Supreme Court.
What is the matter
On July 23, 2019, the Supreme Court ordered the ED to register the case and investigate. Also, the ED was also directed to file an investigation report every three months. The Supreme Court had earlier conducted a forensic audit of the case on the petition of flat buyers. In which the directors of Amrapali Groups of Companies were found guilty of manipulating the amount of flat buyers.
The Supreme Court also found that the companies of Amrapali groups have committed crime under the prima facie FEMA and money laundering. On the basis of the audit report, the Supreme Court had also canceled registration of Amrapali Groups of Companies in RERA and handed over all rights of this groups to ABCC.
On the other hand, many flat buyers had also filed FIRs against these directors in Delhi. During the deliberations, these officers were arrested and sent to jail in judicial custody.