JPMorgan invested ₹85 cr. in an Amrapali Group company’s shares & later sold them for ₹ 140 cr. to an office boy?

The court on Tuesday ordered the federal anti-money laundering agency to investigate Amrapali, based in Noida, near New Delhi, for diverting funds overseas with the help of JPMorgan and others. The violations, based on a forensic audit, range from disregarding foreign investment norms, paying dividend without generating profits, setting up fake companies and overvaluing shares.

SELECT“JPMorgan invested ₹85 cr. in an Amrapali Group company’s shares & later sold them for ₹ 140 cr. to an office boy?”