Unitech Noida, Gurugram housing projects: Court cracks whip, no bail for Ajay Chandra, Sanjay Chandra

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Published: April 6, 2017 5:04:37 PM

Patiala House Court on Thursday dismissed the bail plea of both Unitech Ltd promoters Ajay Chandra and Sanjay Chandra who were held in connection with its delayed housing projects in Noida and Gurugram - they were sent to judicial custody till 20 April.

Patiala House Court on Thursday dismissed the bail plea of both Unitech Ltd promoters Ajay Chandra and Sanjay Chandra.

Patiala House Court on Thursday dismissed the bail plea of both Unitech Ltd promoters Ajay Chandra and Sanjay Chandra who were held in connection with its delayed housing projects in Noida and Gurugram – they were sent to judicial custody till 20 April. In the fraud case related to real estate major, Unitech Managing Director Sanjay Chandra was arrested on March 31 by the economic offence wing (EOW) of the Delhi Police along with his brother in connection to a money laundering case after over 90 home buyers filed a complaint saying they had been duped by the company owned by the Chandra brothers. On Monday, the Delhi court extended their police custody till April 6 and today the Patiala House Court rejected the plea filed for their bail.

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The National Consumer Disputes Redressal Commission (NCDRC) was approached by the home buyers of Unitech’s housing projects in Noida and Gurugram. The buyers complained that the builder had failed to give them possession of their flats as per schedule. The company had promised to hand over the possession of flats in 2012, but failed to meet the deadline.

The Supreme Court in January directed that Rs 2 crore deposited by Unitech Resorts Ltd. with its registry be distributed among 39 home buyers who have sought refund of their amount for delay in handing over the possession of flats in the Vista housing project in Gurugram. Earlier, the Supreme Court pulled up Unitech, which had been asked to deposit Rs 5 crore by August 5, 2016, for delaying the completion of a high-end residential project Burgundy that the real estate firm had launched on the Noida-Greater Noida Expressway, saying it will be liable to contempt of court if it violates the settlement terms.

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