The real estate arm of US firm JPMorgan is under investigation from India 's Supreme Court over its investments in the Amrapali Group ; the firm 's Real Estate fund is in hot water after the country 's forensic auditors examined the property developer 's books and found that the fund made an INR850 million ( $ 1.2 m ) transaction to purchase Amrapali shares before making INR1.4bn through their sale to the Indian firm 's subsidiaries , both owned by Chandan Kumar , an employee of the company 's auditing office . The bench also noted that ‘Neelkant’ and ‘Rudraksh’ were owned by Chandan Kumar, who was a peon in the office of the statutory auditor of Amrapali. The investigators have questioned how such large transactions were made without verification , and who the actual buyer was .
The real estate arm of US firm JPMorgan is under investigation from India 's Supreme Court over its investments in the Amrapali Group ; the firm 's Real Estate fund is in hot water after the country 's forensic auditors examined the property developer 's books and found that the fund made an INR850 million ( $ 1.2 m ) transaction to purchase Amrapali shares before making INR1.4bn through their sale to the Indian firm 's subsidiaries , both owned by Chandan Kumar , an employee of the company 's auditing office . The investigators have questioned how such large transactions were made without verification , and who the actual buyer was .