NOIDA: Since October 11, 2018, Anil Sharma has been going through interrogation at the Park Ascent in Noida as the finances of his corporate, Amrapali, had been scrutinised and the Supreme Court requested auditors to look into diversion of money accrued from homebuyers.
The scales had been large, an excessively good distance from 2003 when Amrapali put its first dot on the true property map with a housing challenge of 140 flats (Exotica) in Noida. As an actual property corporate, Amrapali’s graph climbed north from there, as did Sharma’s status as a businessman that saw him build an empire spanning 24 cities, diversify into hospitality, health care, FMCG and Bollywood and in addition try a career in politics before the debts mounted and the road unexpectedly wound up.
An IIT-Kharagpur graduate, Sharma built his empire in a decade. His stature among peers grew at a an identical pace — Sharma went on to go the true property association Credai. He also got cricketer Mahendra Singh Dhoni to endorse Amrapali as its brand ambassador — Dhoni broke that association in 2016 and sued Amrapali — and expanded his actual property trade not handiest in NCR however in cities such as Bhilai, Lucknow, Bareilly, Vrindavan, Muzaffarpur, Jaipur, Raipur, Kochi and Indore, among others. Apart from his actual property ventures, Sharma introduced Amrapali Media Vision, a media corporate, and produced two motion pictures — ‘Gandhi to Hitler’ and ‘I Don’t Luv U’.
Sharma was born at Pundarak, about 50km from Patna, and attended a village college before becoming a member of Patna Science College. He attributes his higher schooling to the steerage and mentorship of his father, Madan Mohan Sharma, who sought after him to be a civil engineer. He went on to check BTech at NIT Calicut and an MTech (structural engineering) at IIT.
He followed up the engineering degrees with an LLB and MBA and worked at National Thermal Power Corporation (NTPC) and National Project Construction Corporation (NPCC).
Sharma contested the 2014 Lok Sabha polls from Jehanabad on a JD(U) ticket however suffered an enormous defeat. He next made an try to enter Rajya Sabha however lost out again.
The proceedings in opposition to Amrapali began coming to mild after cheques issued by way of them began bouncing. Massive protests by way of homebuyers introduced attention to what the company was doing with its finances.
Advocate Kumar Mihir, who represent homebuyers within the Supreme Court, mentioned Sharma’s arrest would possibly bring result in a extra focused interrogation.
“While all his properties are at the moment up for sale, there has not been a lot growth (on the monetary solution). The ultimate round of bids for its properties is on March 8. The initiatives are not selling as banks are not allowing loans to anyone to buy these properties, so there’s a type of freeze,” Mihir mentioned.
The attorney representing Amrapali within the Supreme Court, Alok Aggarwal, refused to comment on the day’s court cases.
The scales had been large, an excessively good distance from 2003 when Amrapali put its first dot on the true property map with a housing challenge of 140 flats (Exotica) in Noida. As an actual property corporate, Amrapali’s graph climbed north from there, as did Sharma’s status as a businessman that saw him build an empire spanning 24 cities, diversify into hospitality, health care, FMCG and Bollywood and in addition try a career in politics before the debts mounted and the road unexpectedly wound up.
An IIT-Kharagpur graduate, Sharma built his empire in a decade. His stature among peers grew at a an identical pace — Sharma went on to go the true property association Credai. He also got cricketer Mahendra Singh Dhoni to endorse Amrapali as its brand ambassador — Dhoni broke that association in 2016 and sued Amrapali — and expanded his actual property trade not handiest in NCR however in cities such as Bhilai, Lucknow, Bareilly, Vrindavan, Muzaffarpur, Jaipur, Raipur, Kochi and Indore, among others. Apart from his actual property ventures, Sharma introduced Amrapali Media Vision, a media corporate, and produced two motion pictures — ‘Gandhi to Hitler’ and ‘I Don’t Luv U’.
Sharma was born at Pundarak, about 50km from Patna, and attended a village college before becoming a member of Patna Science College. He attributes his higher schooling to the steerage and mentorship of his father, Madan Mohan Sharma, who sought after him to be a civil engineer. He went on to check BTech at NIT Calicut and an MTech (structural engineering) at IIT.
He followed up the engineering degrees with an LLB and MBA and worked at National Thermal Power Corporation (NTPC) and National Project Construction Corporation (NPCC).
Sharma contested the 2014 Lok Sabha polls from Jehanabad on a JD(U) ticket however suffered an enormous defeat. He next made an try to enter Rajya Sabha however lost out again.
The proceedings in opposition to Amrapali began coming to mild after cheques issued by way of them began bouncing. Massive protests by way of homebuyers introduced attention to what the company was doing with its finances.
Advocate Kumar Mihir, who represent homebuyers within the Supreme Court, mentioned Sharma’s arrest would possibly bring result in a extra focused interrogation.
“While all his properties are at the moment up for sale, there has not been a lot growth (on the monetary solution). The ultimate round of bids for its properties is on March 8. The initiatives are not selling as banks are not allowing loans to anyone to buy these properties, so there’s a type of freeze,” Mihir mentioned.
The attorney representing Amrapali within the Supreme Court, Alok Aggarwal, refused to comment on the day’s court cases.
Anil Sharma: Making & unmaking of realty tycoon
![Anil Sharma: Making & unmaking of realty tycoon]()
Reviewed by Kailash
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March 01, 2019
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