ED tightens noose, set to quiz Amrapali owners' kin

New Delhi: The noose seems to be tightening around the promoters of Amrapali Group as the Enforcement Directorate (ED) is preparing to question family members of the embattled real estate major as part of its money laundering probe against them.

Sources in the agency said there are allegations that promoters of Amrapali Group set up certain shell companies to divert funds collected from the home buyers.

It is also suspected that certain family members of the promoters played crucial role in diverting funds, sources said, adding that they will soon be called for questioning. The ED sleuths are already scrutinising forensic audit report of the company’s accounts.

Sources further said, “It is also suspected that the promoters allegedly set up 23 shell companies in the names of office boys, peons, and drivers. The top brass of the group allegedly used these bogus firms to divert funds worth '3,000 crore.”

The ED recently filed a criminal case of money laundering against Amrapali Group and its promoters, who allegedly failed to give possession of flats to over 42,000 home buyers in Noida and Greater Noida.

The ED filed a case under the Prevention of Money Laundering Act (PMLA) after taking cognisance of 16 FIRs registered against the group by the Noida police.

The Supreme Court (SC) recently directed the ED to investigate money laundering by directors and officials of the Amrapali Group.

The court also cancelled the lease granted by Noida and Greater Noida authorities to all projects of the realty group.

The apex court directed the Centre and the state governments to take appropriate action against builders who have not delivered projects on time.

On February 28, the apex court had allowed the Delhi police to arrest Amrapali Group chairman and managing director, Anil Sharma, and two directors on a complaint that buyers of their various housing projects were duped.