[ecis2016.org] In April 2018, Dhoni moved the Delhi High Court against the beleaguered company over non-payment of dues in the excess of Rs 150 crore.
The Supreme Court, on July 25, 2022, stayed the arbitration proceedings initiated by former team India skipper Madendra Singh Dhoni against the now-defunct Amrapali Group.
You are reading: Amrapali case: SC stays arbitration proceedings initiated by Dhoni
In April 2018, Dhoni moved the Delhi High Court against the beleaguered company over non-payment of dues, in excess of Rs 150 crore. The Delhi HC, in 2019, appointed former judge Veena Birbal as the sole arbitrator to hear the dispute.
Read also : Budget 2019: Government proposes to raise TDS on interest income to Rs 40,000
The SC-appointed forensic receiver on the other hand told the apex court that Rs 42 crore has to be recovered from Dhoni, illegally diverted to him by Amrapali by siphoning off home buyers’ money for endorsing the brand.
Stating that since home buyers’ interest was its highest priority, the SC said it would be difficult for the court-appointed receiver to ‘defend and take care of such litigation’ at a time when all possible venues are being explored to arrange funds to complete various pending housing projects. The SC also remarked that the erstwhile management of the Amrapali Group cannot be expected to represent the cause of Amrapali in the arbitration proceedings — all former group directors of Amrapali, Anil Kumar Sharma, Shiv Priya and Ajay Kumar, are in jail over the SC order.
Read the full coverage of the Amrapali case
Read also : Ministry of Defence nod through for proposed Pune international airport
Issuing a notice to Dhoni, the SC asked justice Birbal to not proceed with the arbitration initiated by the Delhi HC on Dhoni’s plea.
“Now, with the erstwhile Amrapali management behind the bars, it is not possible for the court-appointed receiver to go before the arbitrator in connection with individual claims. Today, the top court was apprised of this matter and after hearing arguments, issued notice,” said Kumar Mihir, counsel for home buyers.
Through a contract with Rhiti Sports Management Pvt Ltd, which manages brands of various sports persons, Dhoni had been endorsing the real estate company for the past several years before he severed his ties with the company in April 2016, after being trolled by home buyers. While the relationship lasted, Dhoni was promised a villa worth Rs 1 crore by Amrapali in its Dream Valley project after team India won the World Cup in 2011.
Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org
Source: https://ecis2016.org
Category: Lifestyle
