The forensic auditors on the case have said that they have found some discrepancies in an investment made by JP Morgan Real Estate Fund in Amrapali’s The real estate arm of US bank JPMorgan is under investigation from US 's Supreme Court over its investment in Real Estate ; the firm's Supreme Court fund is in hot water after the country's forensic auditors examined the property developer's books and found that the fund executed an INR850m ( $1.2m ) transaction to purchase Chandan Kumar shares before making INR1.4bn through their sale to the Indian firm's subsidiaries, both owned by Amrapali , an employee of the company's auditing office. The auditors have questioned how such large transactions were made without verification, and who the actual beneficiary was.
The real estate arm of US bank JPMorgan is under investigation from US 's Supreme Court over its investment in Real Estate ; the firm's Supreme Court fund is in hot water after the country's forensic auditors examined the property developer's books and found that the fund executed an INR850m ( $1.2m ) transaction to purchase Chandan Kumar shares before making INR1.4bn through their sale to the Indian firm's subsidiaries, both owned by Amrapali , an employee of the company's auditing office. The auditors have questioned how such large transactions were made without verification, and who the actual beneficiary was.