15 , March , 2022
On Monday, the Supreme Court was informed by a court-appointed forensic auditor that Enforcement Directorate (ED) has attached the wrong properties of a former director of Amrapali Group taking it as proceeds of crime.
Forensic auditor Pawan Agarwala informed a bench of Justices UU Lalit and Bela M Trivedi that the properties that ED claimed to be that of Amrapali Group’s former director Prem Mishra as proceeds of crime were in actual, the properties of Amrapali Modern Homes Pvt Ltd, which has been constructed by siphoning of home buyers’ money.
These properties need to be detached and handed over to court receiver R Venkataramani to be auctioned in the open market to generate funds for the construction of stalled projects, he stated further.
Agarwala told the bench that there was a handwritten agreement between Amrapali Group and Prem Mishra under which they were to share the profit 60:40 ratio, which is not acceptable under the law.
He submitted that Amrapali Modern Home Pvt Ltd is a 100 per cent Amrapali Group’s entity in which funds were diverted from projects constructed in Noida and Mishra and his family members have not invested any amount in it.
The bench asked Additional Solicitor General Sanjay Jain about the properties attached to Mishra to which he accepted that the properties were provisionally attached as they are proceeds of crime.
