The Supreme Court said on Wednesday that the two auditors it had appointed for forensic audit of Amrapali Group and assets of its directors since 2008 are “experienced and reputed”, and that one of them had even exposed the infamous Harshad Mehta scam.
Mehta, a stockbroker, was charged with numerous financial crimes to the tune of around ₹4,500 crore that took place in 1992.
He was involved in a massive stock manipulation scheme and his firm had brokered transactions between banks.
A Bench of Justices Arun Mishra and U. U. Lalit have appointed two auditors — Ravi Bhatia of Bhatia and Company; and Pawan Kumar Aggarwal of Sharp and Company — to conduct the forensic audit of Amrapali Group.
“We have appointed two auditors to do forensic audit. One of them investigated the Harshad Mehta scam and the other is equally experienced, reputed and competent,” the Bench said.
It directed that documents and details, including bank accounts, balance sheets of all 46 companies, including Jotindra Steel, since 2008 be given to the forensic auditors.
