SC asks Amrapali Group to explain details of transactions\, agreements with M S Dhoni

SC asks Amrapali Group to explain details of transactions, agreements with M S Dhoni

Press Trust of India  |  New Delhi 

The directed the embattled on Tuesday to explain by tomorrow its monetary transactions and agreements with Indian Singh Dhoni, the realty firm's brand between 2009 to 2015.

It said the group might have "cheated" as well and that is the reason some have reported about his case.

A bench of Justices and U U Lalit asked the firm to submit the details by Wednesday as to how much money was transacted between and

"By tomorrow, we want entire picture before us. How much money was transacted between you and Dhoni and what were your agreements with him. How much money you have paid for the advertisements (branding). We want entire detail. You might have cheated him also that's why have recently reported about his case," the bench said.

At the outset, the court appointed two and told the bench that they have detected 24 transactions between and M/s Rhiti Sports Management Pvt Ltd, which manages endorsement and advertisement rights of Dhoni.

told the bench that in one of the transactions around Rs 25 crore was given by Dhoni to Amrapali and there were several transactions between different group companies.

M L Lahoty, appearing for home buyers, said that Dhoni's wife was an ex-

The bench then asked senior advocates and Gaurav Bhatia, appearing for Amrapali, to furnish all the details by Wednesday.

Dhoni in an earlier affidavit filed in the apex court had said that he was a creditor of and had entered into a joint venture agreement with it on June 14, 2011.

Under the agreement they were to create a joint venture company to develop a residential complex in Ranchi and adjoining areas in Jharkhand, he said.

Dhoni said that for creating the JV an MOU was executed between Amrapali Group CMD and him and has contributed Rs 25 crore as initial capital.

He said he was guaranteed and assured payment of minimum sum of Rs 75 crore to him by Amrapali.

In another affidavit, Dhoni had sought protection of his ownership rights on over 5,800-square feet penthouse he had booked 10 year ago in a Amrapali Group project.

Dhoni had moved an application in the court after receiving a notice from forensic auditors seeking clarification on certain aspects of the purchase.

He said the apex court had on December 5 last year directed the forensic auditors to issue individual notices to home buyers who booked the flats on a paltry sum.

The former team said his has given a detailed reply to the notice sent by the forensic auditors.

Dhoni said he has paid Rs 20 lakh for the property but only some work for the penthouse has been done and he has not been given the possession.

"It is respectfully submitted here that the price paid by the applicant is certainly not a paltry amount," he had said, adding that because he was associated with the Amrapali Group as their brand ambassador, he got the penthouse at a lower price.

Dhoni said that like other home-buyers and creditors, he has also been duped by the Amrapali Group.

Rhiti Sports on other hand had in an told the court that it was an operational creditor of Amrapali Group and had entered into various agreements for endorsement promotion of brand 'Amrapali' between the year 2009 and 2015.

It had said that the endorsements agency agreements and various MOUs were executed between Amrapali Group CMD for and on behalf of all the companies, partnership firms, joint ventures doing their business under brand umbrella of Amrapali Group and M/s Rhiti Sports Management Pvt Ltd.

"That the Amrapali Group owes an amount in access of Rs 38.95 crores out of which Rs 22.53 crores is towards the principal amount and Rs 16.42 crores towards the interest calculated at 18 per cent simple interest per annum," Rhiti sports has said in its affidavit.

The sports management company had told the court that two agreements were entered between Amrapali Group and Dhoni in 2009 and 2012 for three years each for the brand endorsements of the firm and it was agreed that all the amount payable to Dhoni was to be done through it only.

The top court, which is seized of several pleas of home-buyers seeking possession of around 42,000 flats booked in projects of the Amrapali group, also ordered attachment of personal properties of the CMD and directors -- and

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First Published: Tue, April 30 2019. 19:25 IST