16 projects of Amrapali set to be auctioned

■ Financial audit of firm soon

New Delhi, Sept. 6: The Supreme Court on Thursday identified 16 properties of the Amrapali Group for auctioning, preferably by the NBCC, to give the PSU an initial corpus to start work on the stalled projects.

It also ordered a forensic audit of the firm and its promoters to gauge the extent of financial wrongdoings.

NBCC offered to the court that it can start construction on the 15 stalled projects with a capital of ` 1,000 crore and the remaining amount of ` 7,500 crore could be given in quarterly installments of ` 250 crore.

The top court also brought CMD of Amrapali Group Anil Sharma under its scanner for declaring his assets worth ` 67 crore as against ` 847 crore declared in his election affidavit filed during the 2014 Lok Sabha polls, when he had unsuccessfully contested as a JD( U) candidate from Bihar’s Jehanabad constituency.

A bench of Justices Arun Mishra and U. U. Lalit said the records regarding how Sharma’s assets, which were worth ` 847 crore, have now come to be worth only ` 67 crore in a span of just four years,

◗ NBCC offered to the court that it can start construction on the 15 stalled projects with a capital of ` 1,000cr

have not been placed before it so far.

It sought an affidavit on the list of properties of Sharma and other directors, including their family members, within four days and posted the matter for further hearing on September 12.

The bench directed that forensic audit of 46 group companies of Amrapali and its directors and promoters and their spouses and children will be done in two months. “In the circumstances, we direct forensic audit of 46 companies of Amra- pali Group including Jotindra Steel and Tubes Ltd. Let the forensic audit of assets of all directors including movable and immovable, their family members and related companies. Let the forensic audit be completed within two months and reports be submitted in the court,” the bench said. The apex court, however, said it would later decide which agency will do the forensic audit.