SC grants bail to Unitech promoter Sanjay Chandra

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By: Express Web Desk | New Delhi | Updated: July 7, 2020 1:32:47 pm

unitech, unitech MD, unitech MD sanjay chandra, sanjay chandra, unitech flat, unitech greater noida, unitech case Sanjay Chandra (in pic) and his younger brother Ajay were arrested by the Delhi Police on March 31, 2017, for allegedly duping home buyers through two housing projects in Gurugram.

The Supreme Court on Tuesday granted bail to Unitech promoter Sanjay Chandra to visit his parents who are hospitalised. The real estate firm promoter has been languishing in New Delhi’s Tihar Jail for about three years in connection with a money laundering case.

Sanjay Chandra and his younger brother Ajay were arrested by the Delhi Police on March 31, 2017, for allegedly duping home buyers through two housing projects in Gurugram. Over 150 home buyers had lodged a criminal case against the firm in 2015 for its real estate projects — ’Wild Flower Country’ and ‘Anthea Project’, alleging that the builders had not delivered possession and cheated the public at large.

The top court had directed Chandra to deposit Rs 1,000 crore in court for refunding home buyers who had invested in projects undertaken by the group. Chandra had expressed his inability to pay the desired amount, stating he could not sell his assets while in jail.

In 2017, the Centre had moved a plea before the National Company Law Tribunal, in which it had sought suspension of the incumbent directors of the real estate firm. In January this year, the apex court granted the Centre to form a new board at the company in order to sell the assets of the company.

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