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Supreme Court refused to grant bail to Unitech Ex- promoters

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By Rupali Gupta-

Supreme Court rejected bail to Unitech Ex-promoters Ajay Chandra and Sanjay Chandra. They were arrested by the Economic offenses wing (EOW) of the Delhi police in 2017 in charge of fraud. They didn’t give possession of flats to the buyers ever after they had paid for it.

On July 7, the bench of Justices D Y Chandrachud and M R Shah granted interim bail to Sanjay Chandra as his parents were infected with the coronavirus and when he asked to extend the bail, the SC has refused and asked him to surrender forthwith.

After this Chandra brother’s Advocate, Mukul Singh Rohatgi argued that his clients had already paid more than Rs 771 crore to the court despite Rs 750 crore which was imposed by the SC. But this plea was opposed by homebuyer’s counsel M L Lahoty and advocate Paanshree Agrawal, who is representing as amicus curiae. And they had also told the court that the brothers have not deposited the whole amount by themselves as more than Rs 300 crore came after the SC appointed committee.

The bench rejected the bails and said the condition for paying was not fulfilled as per the directions given by the three-judge bench. And if any modification needed in the condition it will only be done by the bench itself.

Now, Retired IAS officer Yudvir Singh Malik was appointed as chairman and managing director of the company as the center had taken over the management on the suggestion of the apex court in January to manage the affairs and to complete the remaining house projects.