Saturday, April 20, 2024

Supreme Court denies bail to Amrapali ex-CMD Anil Sharma, says no sympathy for cheating thousands of homebuyers

The Supreme Court has told the former CMD of Amrapali Group of Companies Anil Kumar Sharma that he has cheated thousands of home buyers by siphoning their hard earned money and life savings and thus, deserves no sympathy.

The bail plea of the former CMD of Amrapali group has been rejected by the Supreme Court on the ground that he has cheated thousands of home buyers and did not deserve any sympathy.

A bench of Justice Ajay Rastogi and Justice Bela M Trivedi have refused to issue notice to the prosecuting agency on the bail plea of Sharma, who has been in jail for over four years in the case.

The former CMD of the real estate group and other directors of the firm were arrested on the direction of the top court after the forensic audit report revealed that a large amount of home buyers’ money was siphoned off by the management.

It said the offence ran “very deep” and even the court was facing difficulties in tackling the problem.

The bench said that this case is not a case of simple cheating as it portrays plight of thousands of home buyers. Bench said that he cannot have the sympathy and better enjoy being in jail…

Earlier, the top court had granted Sharma interim bail for a few weeks on medical grounds in the case.

Sharma and others have been in jail after their arrest in 2018 for various offences, including that of cheating, criminal breach of trust and money laundering and have spent nearly four years in prison. They have been accused of siphoning home buyers money.

The apex court, in its July 23, 2019 verdict, had cracked down on errant builders for breaching the trust reposed by home buyers and ordered the cancellation of registration of the Amrapali Group under real estate law RERA and ousted it from prime properties in the national capital region (NCR) by nixing the land leases.

The top court had directed a probe by the Enforcement Directorate (ED) into alleged money laundering by realtors, providing relief to over 42,000 home buyers of the Amrapali Group with the verdict.

Besides ED, the Economic Offence Wing (EoW) of the Delhi Police and the Serious Fraud Investigation Office (SFIO) has also been investigating various cases lodged against the former officials of the real estate group.


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