The CBI has filed an FIR towards Amrapali Leisure Valley Developers Pvt Ltd, its director Anil Sharma and others for allegedly dishonest Bank of Maharashtra and Andhra Bank of over Rs 230 crore, officers mentioned Friday.
The banks had sanctioned credit score services to develop a housing constructing on the Tech Zone IV in Uttar Pradesh’s Greater Noida on a plot measuring 1.06 lakh sq. metre, the FIR alleged.
The firm failed to keep up monetary self-discipline following which the account was declared a non-performing asset on March 31, 2017, the criticism from Bank of Maharashtra, now a part of the FIR, has alleged, including that “it has resulted in the loss of over Rs 230.97 crore”.
Following the FIR, the CBI Thursday carried out searches at 4 areas in Delhi, Noida and Ghaziabad, they mentioned.
Some Amrapali Group flat patrons had approached the Supreme Court owing to the non-delivery of promised flats to them in Noida and Greater Noida space the place the corporate had promised to develop and promote 42,000 items.
The Supreme Court had ordered a forensic audit within the affairs of the corporate, the criticism has alleged.
In the forensic audit, it surfaced that the group allegedly diverted Rs 5,619 crore by totally different corporations — Amrapali Leisure Valley Developers Pvt Ltd, Amrapali Homes Projects Pvt Ltd, Ultra Home Constructions Pvt Ltd and Amrapali Grand, it mentioned.
The financial institution requested the auditor to seek out out the quantity of its cash that has been diverted which confirmed that Rs 52.01 was transferred to Kapil Buildhome Pvt Ltd and Gaurisuta Infrastructure Pvt Ltd between 2013 and 2016 from the time period mortgage sanctioned by Bank of Maharashtra, it mentioned.
“The modus operandi followed by the accused person(s) actively portrays criminal conspiracy hatched between the accused person(s) with mala fide intention to cheat, defraud, deceive and cause wrongful loss to the banks and the accused persons have committed cheating, criminal breach of trust,” the financial institution has alleged within the criticism.
Besides Sharma, the CBI has additionally named different administrators Shiv Priya and Suvash Chandra Kumar, former director Pankaj Mehta, Atul Mittal and Ashish Jain — each administrators in Chintapurni Estate Pvt Limited (Corporate Guarantor) and Gagandeep Singh, authorised signatory in Chintapurni Estate, they mentioned.
The CBI has filed the FIR beneath sections 120-B (prison conspiracy) and 420 (dishonest) of the Indian Penal Code and provisions of Prevention of Corruption Act.
Source: www.financialexpress.com”