The Supreme Court on 27th July issued a stay of the arbitral proceedings that MS Dhoni had started against the Amrapali group of enterprises.
Former Indian Captain Ms Dhoni served them as Brand Ambassador currently they are no longer in business.
In order to “illegally divert” property buyers’ money, Amrapali Group engaged into “fake agreements” with Rhiti Sports Management Pvt Ltd (RSMPL), which promotes the brand of Dhoni, according to forensic auditors hired by the Supreme Court. From 2009 to 2015, a total of Rs 42.22 crore was paid to RSMPL.
The Petition was filed by Ms Dhoni in the Delhi High court, which on October 16 2019 appointed a former Judge Veena Birbal as the sole arbitrator to settle the dispute between Ms Dhoni and the company.
The Justices bench of U U Lalit and Bela M Trivedi on Monday informed to the Receiver about the ongoing arbitration process between Ms Dhoni and real estate enterprises and Dhoni will face a challenge by pursuing the company.
“In view of these, it would be extremely difficult for the receiver to defend and take care of such litigations… It cannot expected that the erstwhile management or anybody else can represent the Amrapali group of companies. Before the learned sole arbitrator,” the bench said.
The highest court gave the cricketer notice and asked Justice Birbal to “hold her hands” and stop the arbitration.
Dhoni filed a petition with the top court in April 2019 asking for protection of his ownership rights over a more than 5,500-square-foot penthouse he reserved in an Amrapali Group project more than ten years prior.
The apex court has keeping an eye on several housing developments constructed. By the NBCC in place of the defunct real estate business.
The former Group directors of Amrapali 6
Anil Kumar Sharma, Shiv Priya, and Ajay Kumar also currently incarcerated per the ruling of the supreme court.
More than 42,000 Amrapali Group home buyers relieved by the court’s decision to order the Enforcement Directorate. To investigate allegations of money laundering by real estate agents.
NBCC is also ordered by top court to finish the abandoned projects of the Amrapali Group.
