A Delhi court on Monday sent Unitech Ltd chairman and its two managing directors to 14-day judicial custody in alleged cheating cases filed by two investors. However only an hour after being sent to jail, the company’s chairman Ramesh Chandra, MDs Sanjay Chandra and Ajay Chandra were granted bail.
The three top officials – Ramesh, Sanjay and Ajay Chandra — had been sent to 14 days judicial custody by additional chief metropolitan magistrate Gaurav Rao in relation to a case filed by Noida residents – chartered accountant Sanjay Kalra and his business partner Devesh Wadhwa.
Here are the six key points relating to the case:
# Unitech’s owner Ramesh Chandra, his sons Sanjay and Ajay Chandra, and a company director Minot Minoti Bahri, accused of cheating and misappropriation.
# The case was filed in 2013 by a chartered accountant Sanjay Kalra and his business partner Devesh Wadhwa.
# The complainants’ had bought a plot in Unitech’s development Habitat Apartments, Greater Noida, but not given possession.
# Unitech failed to observe a State consumer forum order directing it to refund the complainants’ money along with 11% simple interest by October. 2015.
# The ACMM had sent them to jail for two weeks, saying they had made a “mockery of the entire process of law.”
# The top officials got interim bail from a sessions court, but spent a night in jail as the release warrant could not be prepared.