India News | Allahabad HC Turns Down Bail Plea of Amrapali Group's Director, Auditor

Lucknow, Dec 15 (PTI) The Lucknow bench of the Allahabad High Court has turned down the bail plea of Amrapali Group's managing director Anil Kumar Sharma and its statutory auditor Anil Mittal in connection with a multi-crore scam.

Passing the order, justice Dinesh Kumar Singh said, "Money laundering is a serious economic offence and a serious threat to the nation's economy and national interest and these offences are committed with cool calculation with the motive of personal gain regardless of the consequences on the society."

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The order was passed on December 9 and uploaded on Tuesday.

"Considering the order of July 23, 2019 passed by the Supreme Court, in which involvement of the accused, Sharma, in the offence was meticulously flagged, his conduct before the Supreme Court and the fact that the investigation is still on and money trail has to be completely unearthed, it would not be appropriate to enlarge the accused on bail," the court said.

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Sharma has been in jail for allegedly committing serious offences under the Money Laundering Act.

Amrapali group is accused of siphoning off around Rs 6,000 crores of homebuyers' money by conniving with the officials of Noida and Greater Noida authorities.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)