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New Delhi: CBI Raids were conducted at six places in Delhi on Wednesday Noida After registering an FIR against Amrapali Silicon City Private Limited and its Promoters, Anil Kumar SharmaFor the alleged bank fraud of Rs 177 crore, the officials said.
The CBI has registered a case against the company on the complaint of Bank of Baroda, which was part of a consortium including Bank of Maharashtra Punjab National Bank, He said the consortium was allegedly defrauded by the company.
The company had taken over 1.76 lakh square meters of land from the New Okhla Industrial Development Authority (Noida) for the development of Amrapali Silicon City, a group housing complex in Sector 76 of the Delhi suburb.
He said the audit revealed that the company sold 468 flats at extremely low rates, some of which were less than the cost of construction.
He said forensic audit of the company’s accounts and other financial records revealed that funds worth Rs 73 crore were probably diverted by selling the flat at a price below the construction cost.
He said that among other issues, the audit also indicated that the company has transferred an amount of Rs 303.18 crore received from various home buyers to other companies in his group.
He said the bank has alleged that the company has committed fraud, forgery and misappropriation of loan amount to the tune of Rs 177 crore excluding interest.
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