by THO
Unperturbed by the Amrapali fiasco, cricketer Mahendra Singh Dhoni’s family office has invested in SILA, a real estate platform.
This development was confirmed in a statement by SILA and MS Dhoni’s family office.
SILA did not disclose the amount invested.
The company said in a statement on March 4 that the investment will help accelerate SILA’s growth, further strengthen its network, and expand its presence across India’s evolving real estate landscape.
Founded in 2010, SILA is backed by Norwest Venture Partners and is a real estate platform started by brothers Rushabh and Sahil Vora.
It should be noted that Rhiti Sports Management, which managed Dhoni’s contracts from 2009 to 2015, signed an agreement with the embattled Amrapali Group in November 2009 for ₹16 crore, with Dhoni as the brand ambassador, a report by Hindustan Times had said.
SILA said in a statement on March 4 that it manages over 200 million square feet of real estate across 125+ cities in India and that it has advised on real estate transactions worth over ₹16,000 crore for global and domestic funds across India. The company’s service offerings include facility management and real estate advisory.
MS Dhoni’s family office said that it was Sahil and Rushabh’s journey — their experience as competitive squash players for India that attracted them. “…their background as competitive sportsmen playing squash for India has shaped the way they lead and build teams with grit, discipline and a long-term vision,” it said.
Sahil Vora, founder, SILA, said “As entrepreneurs there is so much to learn from him, and we could not be more thrilled to have him support our journey at SILA.”
Rushabh Vora, co-founder and managing director, SILA, said that “His (Dhoni’s) support reinforces our vision and fuels our ambition to scale further in the coming years.”
Amrapali case – the back story
In July 2019, the Supreme Court suspended the Amrapali Group’s license following a forensic audit that revealed large-scale diversion of homebuyers’ funds. The directors of Amrapali are now facing criminal charges for alleged money laundering. That same year, Dhoni filed a petition in the Delhi High Court to recover unpaid dues from Amrapali as per his contract with the company.
Also Read: Amrapali case: SC puts on hold arbitration pleas by Dhoni, others
Between 2009 and 2015, Rhiti Sports Management, which managed Dhoni’s contracts, signed 24 agreements with Amrapali, including a ₹16 crore endorsement deal. However, the payment was never made, leading Dhoni to claim ₹39 crore with interest. Dhoni also entered a joint venture agreement with Amrapali Housing in 2011, investing ₹25 crore, a report published in Hindustan Times had said.
