Unitech Promoter Sanjay Chandra Gets Bail

The Supreme Court has today granted bail to Unitech promoter Sanjay Chandra, on ground of both his parents being hospitalised. He was accused, and has been in jail for almost three years in connection with an alleged fraud case related to delaying housing projects in Noida and Gurugram.

A three-judge Bench  of Justices DY Chandrachud, Indu Malhotra and KM Jospeh allowed bail after being informed that Chandra’s 78-year-old father was infected with COVID-19 and is in an Intensive Care Unit (ICU) at a hospital. The Court, didn’t grant bail to his younger brother Ajay Chandra, who is also in prison in the matter.

The Delhi Police had arrested both Ajay Chandra, and his elder brother 

Sanjay Chandra for allegedly defrauding home buyers through housing projects in Gurugram. Hundreds of those homebuyers had filed cases against their firm in 2015 for its two real estate projects including the Wild Flower Country and Anthea Project. It was alleged that the builders had not deliberately possession to the buyers and had cheated the public at large. 

Supreme Court had then directed them to deposit 1000 crore to refund the home buyers associated with and had invested in the projects, but Chandra had stated that he couldn’t sell his assets while being in jail. 

Back in 2017, the Supreme Court had refused to release him on bail. The same year, the Centre had filed a plea before the National Company Law Tribunal, seeking suspension of the directors of the real estate firm involved. The Court in January 2020 allowed the Centre to form a board at the company to perform the task of selling the company’s assets. 

-India Legal Bureau