Supreme Court has granted bail to Unitech promoter Sanjay Chandra who was in jail along with his brother from the last three years in Tihar jail. He was alleged of duping 500 home buyers in various proposed housing projects.
SC bench headed by Justice DY Chandrachud granted the bail and stated that his parents are tested COVID positive and his father is hospitalized in ICU.
The apex court has rejected the bail plea of Sanjay’s younger brother Ajay Chandra, alleged involvement in the siphoning of money paid by homebuyers in their project.
Two Delhi residents had registered a complaint in 2015 which alleged that Unitech had convinced them to book a flat Wild Flowers Country in Gurgaon Rs 57.34 lakh in August 2011.
Sanjay Chandra and his brother Ajay Chandra was arrested in 2017 after a cheating complaint was lodged against them by the Wild Flower Country and Anthea housing projects’ investors.
90 additional complaints were registered against the Chandra brothers in connection to the same project. The FIRs were clubbed and it was claimed by the police that the real estate firm had recovered around Rs 363 crore from the complainants.
On October 30, 2017, Supreme Court directed that the real estate firm has to deposit Rs 750 crore with the registry in order to get the bail for Sanjay Chandra.