NEW DELHI: Supreme Court-appointed forensic auditors told the court on Wednesday that the Amrapali Group had created a web of about 200 dummy companies, some even in the name of peons and drivers of the Group, to divert homebuyers’ money.Auditors — Ravi Bhatia and Pawan Kumar Aggarwal — told a bench of Justices Arun Mishra and U U Lalit that the homebuyers’ money was diverted to at least 112 such companies and in one case, Rs 140 crore was transferred to two companies whose directors were peons of the group.Referring to investment made by J P Morgan Real Estate Fund in Amrapali Group, Aggarwal told the court that it invested Rs 85 crore in terms of Class B shares in the Group in violation of the Companies Act and transferred its shares worth Rs 140 crore to two companies—Rudraksh and Neelkanth— whose directors at that time were peons of the group.The bench thereafter asked it to furnish all details of its transactions with the group and made it clear that the firm had to bring back Rs 140 crore to India if there is any illegality in the transactions. It asked the company to file affidavit and disclose all information on its dealings with the Amrapali Group.The court also allowed the auditors to expand their ambit and examine all 200 dummy companies used by Amrapali to divert funds and hinted that their assets would also be seized and sold. The court granted 10 weeks’ time to scrutinise the account books of all dummy companies and for filing a comprehensive report. The auditors said directors, chief financial officer and statutory auditors were part of the syndicate to divert homebuyers’ money.They said large sums of money were paid to various companies for supply of material for construction but the material was not supplied and fake entries were made in the account books to show expenditure.The auditors also informed the court that CFO Chandan Wadhwa, who had received around Rs 12 crore from the group, transferred the amount in the bank account of his wife and other companies days before the SC summoned him for his involvement in diversion of funds. Wadhwa had agreed to refund the money but he paid only Rs 2.2 crore in the SC registry.Holding that his conduct amounts to contempt of court, the court directed him to pay the rest of Rs 9.69 crore within a week. “We want money back in seven days or the consequences would be disastrous for you,” the court said.

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