The Supreme Court of India (SC) has granted 15 days interim bail to erstwhile Unitech Real Estate promoter Sanjay Chandra, ANI reported.
The interim bail was granted as Chandra’s father-in-law passed away on May 31.
Earlier in July last year, the SC granted Chandra interim bail on ‘humanitarian grounds’ as both his parents tested positive for novel coronavirus, or COVID-19, and have been hospitalised.
This application for interim bail had been filed by Sanjay Chandra, who is in custody since August 17, 2017. The ground on which interim bail has been sought is that the parents of the applicant, who are 81 years and 78 years of age, respectively, have tested positive for COVID-19, the order noted.
Unitech promoters Sanjay and his brother Ajay are currently lodged in Tihar jail for allegedly siphoning off homebuyers' money.
The apex court had on January 23, 2019, refused to grant bail to the Chandra brothers. It said they had not complied with the October 30, 2017 order which asked them to deposit Rs 750 crore with the court registry by December 31, 2017. The court had directed the trial court to proceed expeditiously in the trial.
The Chandras had sought bail then on the ground that they were complying with the apex court order and had deposited around Rs 481 crore.
Meanwhile, the Enforcement Directorate in March 2020 attached a dozen properties worth over Rs 150 crore belonging to embattled real estate firm Unitech Group.
The criminal case against Unitech Group and its promoters, was filed under the Prevention of Money Laundering Act (PMLA), and concerns allegations that Sanjay and Ajay Chandra illegally diverted over Rs 2,000 crore to Cyprus and Cayman Island. The agency had raided more than 30 premises in Delhi-NCR and Mumbai recently as part of its probe into the case.
The ED said it attached 12 land pieces worth Rs 152.48 crore having a total area of 48.56 acres situated in Gurgaon, Haryana owned by the Chandra family of Unitech Group through proxy/benami entities.
Further, the CBI booked Chandra, Ajay and their father Ramesh for alleged bank fraud of Rs 198 crore in Canara Bank in December 2020. The company is facing multiple probes by several agencies including Delhi Police, CBI and the ED. Chandra's alleged role had also figured in the 2G Spectrum scam but he was acquitted by the trial court.
The Canara Bank has alleged that the company had been availing credit facilities from it on the basis of personal and corporate guarantees from Chandras. Later, due to low demand in the housing market, the company started defaulting on payments. It alleged the company allegedly committed a breach of trust and created false ownership in favour of a third party without the knowledge of mortgagee and misappropriated Rs 198 crore of public money.
The government had taken over control of the company and the Supreme Court had ordered a forensic audit by Grant Thorton into the company's finances. It emerged in the forensic audit that the company has diverted, siphoned off and misappropriated funds.
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