The Supreme Court of India for some time has issued a stay order on the arbitral proceedings initiated by former India captain and Chennai Super Kings (CSK) talisman MS Dhoni against the Amrapali group of companies. The cricketer who was the face of the real estate firm is in a war over some financial dispute.
Various forensic auditors appointed by the apex court informed the bench that the real estate firm entered into a false agreement with Rhiti Sports Management Pvt Ltd (RSMPL), a firm that promotes the former India player and captain. The auditors further informed the bench that a total amount of Rs 42.22 crore was paid to RSMPL during 2009-2015. Seeing the matter take an ugly turn, MS Dhoni moved to Delhi High Court on October 16, 2019. The bench having the likes of U U Lalit and Bela M Trivedi was informed about pending arbitration proceedings between Dhoni and the defunct real estate firms and the difficulties posed to him in pursuing it. In the order, the top court noted that to secure the interests of the home buyers, it had taken cognizance of the matters and had appointed a court receiver to ensure that the housing projects are completed well within time and apartments are allotted to the buyers.
"Given these, it would be extremely difficult for the receiver to defend and take care of such litigations. It cannot be expected that the erstwhile management or anybody else can represent the Amrapali group of companies before the learned sole arbitrator", the bench stated.
In April 2019, Dhoni had moved the apex court seeking protection of his ownership rights on an over 5,500-square feet penthouse he booked 10 years ago in a project of Amrapali Group. Lawyer M L Lahoty, who is also associated with the case, said that Dhoni was given a huge sum of money by the real estate firm for being its brand ambassador, and “we had at that stage argued that the amount was to be recovered” and “the issue of retrieving of money is going on in the apex court".
The apex court has been monitoring various housing projects of the defunct real estate group which are now being built by the NBCC.
(Inputs from PTI)
