New Delhi: A Delhi court on Monday extended police remand of Unitech Managing Director Sanjay Chandra and his brother Ajay till April 6. The Economic Offences Wing sought extension of remand to seize documents from Sanjay and Ajay Chandra’s offices. Sanjay was arrested by the Economic Offices Wing of the Delhi Police from Gurugram (Gurgaon). The arrest was made on late Friday evening. Along with Sanjay, two more arrests have been made, one of them being his brother, Ajay.
An FIR has been registered against them and they have been booked under section 406, 409 (breach of trust), 420 (cheating) and 120 (b) (concealing criminal offence) of the Indian Penal Code. Unitech and its bosses were accused by the homebuyers of fraud after the real estate company failed to hand over possession of houses in its Greater Noida project which were to be handed over by April 2008. There are also allegations that Chandra fraudulently took the money of his clients and used a shell company to launder it abroad. As per a TOI report, the police have informed that 91 people had invested Rs 35 crores in the project but, none of them got the flats they had booked.
In January last year, Sanjay, along with Unitech Ltd Chairman Ramesh Chandra, Managing Director Ajay Chandra and Director Minoti Bahri had to spend a day in Tihar Jail following a case filed by chartered accountant Sanjay Kalra and his business partner Devesh Wadhwa who had booked a property in Habitat Apartments in Greater Noida developed by Unitech. The project was delayed but the company had allegedly refused to refund the amount. All four had been sent to one-day judicial custody on January 11, 2016 however, all succeeded in getting interim bail for three days, but could not get a release warrant on time.
Slapping a penalty on Unitech Resorts for delaying handing over of flats, the Supreme Court on February 20, 2017, directed it to deposit 14 per cent interest on the Rs 16.55 crore invested by 39 home buyers with it.