Dhoni vs Amrapali Group: Major SETBACK for CSK captain MS Dhoni. Supreme Court stays arbitral proceedings against Amrapali group over a commercial dispute.
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Dhoni vs Amrapali Group:
The Supreme Court on Monday stayed the arbitral proceedings initiated by former India captain, MS Dhoni, against the Amrapali group of companies. Now a defunct real estate firm for which the cricketer was the brand ambassador, over some financial dispute.
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The apex court-appointed forensic auditors had told
The apex court-appointed forensic auditors had told the bench that Amrapali Group had entered into “sham agreements” with Rhiti Sports Management Pvt Ltd (RSMPL). Which promotes the brand of Dhoni, to “illegally divert” home buyers’ money, and a total amount of Rs 42.22 crore. He was paid to RSMPL during 2009-2015.
Captain Cool moved to the Delhi High Court, on October 16, 2019. He had appointed its former judge Veena Birbal as sole arbitrator to arbitrate the commercial dispute between the cricketer and the real estate firm.
A bench comprising justices U U Lalit and Bela M Trivedi was on Monday told by the court-appointed. The receiver about the pending arbitration proceedings between Dhoni and the defunct real estate firms. And the difficulties posed to him in pursuing it.
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The top court noted that to secure the interests of the home buyers
In the order, the top court noted that to secure the interests of the home buyers. It had taken cognizance of the matters and had appointed a court receiver to ensure. That the housing projects are completed well within time and apartments are allotted to the buyers.
“In view of these, it would be extremely difficult for the receiver to defend and take care of such litigation. It cannot be expected that the erstwhile management or anybody else can represent the Amrapali group of companies before the learned sole arbitrator,” the bench said.
Many of the Amrapali home buyers are miffed with Dhoni and find him one of the accused in the fraud-
Many of the Amrapali home buyers are miffed with Dhoni and find him one of the accused in the fraud. Which has resulted in losing their money. They are reportedly trying to recover more than 42 Crores received from the investors to pay endorsement fees to Rhiti Sports. These manage Dhoni’s endorsements.
