Published On: Wed, Jul 24th, 2019

Amrapali diverted homebuyers’ money to Dhoni’s firm illegally: Apex Court

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Amrapali Group of Companies is learned to have paid Rs 42.22 crore to Rhiti Sports Management Private Limited, firms promoted by cricketer MS Dhoni and his wife Sakshi, between 2009 and 2015, said Supreme Court.

The diverted homebuyers’ money includes Rs 6.52 crore paid by Amrapali Sapphire Developers Private Limited.

Until three years ago MS Dhoni was the brand ambassador for the Amrapali Mahi Developers Private Limited and Sakshi is a director of it. Dhoni also has a major stake in Rhiti Sport.

The Rhiti Sports and Amrapali Mahi came to light during a forensic audit in 2018 under the order of the apex court.

Justices Arun Mishra and UU Lalit said it seems the money of homebuyers were directed illegally to Rhiti Sports and need to be recovered from both the companies.

According to the audit report, the agreements made for payment are sham agreements as the primary purpose is to just make payments to Rhiti Sports.

The audit added the share capital was received by Amrapali Mahi group in cash and all the expenses too were paid in cash.

Amrapali diverted homebuyers' money to Dhoni's firm illegally: Apex Court

The apex court said, “We are informed verbally that this company (Amrapali Mahi) was incorporated for development of a project in Ranchi. An MoU was also entered between the parties though we were not provided a copy of that.”

The court meanwhile has asked the National Buildings Construction Corporation to provide relief to about 40,000 homebuyers by completing all Amrapali projects.

About the Author

- Paul Linus is an eminent online journalist who has been writing news, features and editorials on different websites from across the world for about a decade. He can be contacted at knowledgeherald@gmail.com

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