Unitech directors sent to judicial custody till April 20
A court here on Thursday dismissed the bail plea of real estate company Unitech's Managing Director Sanjay Chandra and sent him to 14-day judicial custody.
Additional Chief Metropolitan Magistrate Ashu Garg remanded real estate company Unitech's Managing Directors and brothers Sanjay Chandra and Ajay Chandra to judicial custody till April 20.
The court order came after public prosecutor Anil Paswan submitted that Delhi Police did not need further custodial interrogation of the accused persons.
Meanwhile, Sanjay Chandra moved his bail plea on the ground that he would cooperate with investigation and not run away from justice.
The court rejected the application after prosecutor Paswan opposed the bail plea.
The Chandra brothers were booked for cheating buyers as Unitech first failed to complete a real estate project in Gurugram's Sector 70 on time and then did not refund the money to buyers.
They were arrested from their residence in Gurugram last Friday night by the Economic Offences Wing (EOW) of Delhi Police and a court here on Saturday sent them to two-day police custody.
There were 90 complaints against the brothers in connection with the project for which valid permission from the competent authority was not taken.
The project was to be completed by 2014.
The accused were booked on charges of criminal breach of trust, cheating and criminal conspiracy.
The police on Saturday told the court that Unitech had collected Rs 363 crore from 557 customers for Anthea Floors residential project.
It also alleged that their licence was not approved by the competent authority for building the township.
The project was started in 2011 without getting environment clearances. Unitech obtained clearance in September 2013.
Even though it did not have environment clearance, the accused continued booking flats without giving the real picture to investors and thus misrepresented facts.