New Delhi: The Supreme Court appointed auditors – who carried out the forensic audit of embattled real estate major Amrapali – have said that the Amrapali group’s transaction with Rhiti Sports Management – were sham just for making payments and home buyers’ money was diverted illegally and wrongly.
The forensic auditors, in their report referring to various agreements, have said: “…. these agreements have just been made for payment of amounts to Rhiti Sports Management Private Limited Company are sham agreements and made just for making payments to Rhiti Sports Management Private Limited. We feel that home buyers’ money has been diverted illegally and wrongly to Rhiti Sports Management Private Limited and should be recovered from them as the said agreement in our opinion do not stand the test of law.”
Cricketer Mahendra Singh Dhoni had 15 per cent stakes in Rhiti Sports Management, which invited criticism from former cricketers including Kirti Azad, Maninder Singh, Chetan Chuahan and V.V.S. Laxaman for alleged conflict of interest as it then managed three cricketers who were playing in the team captained by Dhoni. The former captain later gave up his stakes in Rhiti Sports Management.
The forensic audit report also says: “Amrapali Mahi Developers Pvt Ltd received share capital in cash and all the expenses were paid in cash only. Mr Dhoni, husband of Ms. Sakshi Singh Dhoni (director of company) was the brand ambassador of Amrapali group and have carried out a number of transactions with respect to endorsement of Amrapali group’s projects. He entered into agreements with other group company.”
The forensic audit report says: “It is observed that the company Amrapali Sapphire Developers Private Limited has paid a sum of '6.52 crore out of the total amount of '42.22 crore from the Amrapali group of companies to Rhiti Sports Management Private Limited during 2009-2015. This sum has been paid on account of agreements executed by Anil Kumar Sharma, CMD for and on behalf of Amrapali group of companies with Rhiti Sports Management. There is no resolution on record authorising Mr. Anil Kumar Sharma to enter into an agreement on behalf of all Amrapali group of companies”. The summary of forensic audit report was extracted in the Supreme Court judgment on Amrapali delivered on July 23.
