Unitech's Chandra brothers get bail in one case, to remain in custody for another

Managing Director of Telenor's India partner Unitech, Sanjay Chandra (C) leaves a court in New Delhi April 13, 2011. An Indian court on Wednesday put on trial the first set of officials and businessmen indicted in the country's biggest corruption case, a multi-billion dollar telecoms scandal that has weakened the government and put off some foreign investors. (REUTERS)

A Delhi court on Monday, was granted bail to promoters of real estate firm Unitech Ltd, Sanjay and Ajay Chandra, in one of the many cases of alleged fraud committed by them by not delivering flats to hassled home buyers.

However, the Chandra brothers, would remain in custody of the police till September 15 to get quizzed in connection with three similar complaints.

Additional Chief Metropolitan Magistrate Sandeep Garg granted bail to the Chandras on a personal bond of Rs 50,000 each in the FIR lodged by an 85-year-old woman alleging they had duped her of Rs 41 lakh in the 'Unitech Cascades' housing project in Greater Noida in Uttar Pradesh.

The court allowed the bail plea after the Chandras, through their counsel RK Gosain, said they were ready for a settlement through mediation and submitted fixed deposit receipt of Rs 41.5 lakh.

This amount shall be paid to the complainant once the matter is settled, the counsel said.

A court here had last week sent them to seven-day police custody in connection with three FIRs, one of which alleged that he duped a man, who booked a flat in its 'Unitech Verve' project in Greater Noida, of Rs 16.77 lakh.

Ram Narain Aggarwal, a retired government employee, has alleged that the firm floated a residential project 'Unitech Verve' in 2006 in which he booked a flat.

The apartment was scheduled to be delivered by December 2009, but he has not yet got its possession, he alleged.

The other two FIRs also alleged non-delivery of flats to home buyers and fraud committed on them by promoters.

The Chandras have been accused of offences under sections 120B (criminal conspiracy), 420 (cheating) and 406 (criminal breach of trust) of the IPC.

Recently, the Supreme Court had refused to grant interim bail to the Chandra brothers till September 15 in one of it Gurugram-based project till the customers' grievances were redressed.

It assured the troubled home buyers of refund of their investment or delivery of homes.

In the last few years, several FIRs have been lodged against the Unitech top brass for allegedly cheating home buyers by not delivering them properties purchased from their firm's housing projects.