SC rejects Unitech’s Chandras’ plea for bail

New Delhi, Jan 23 (IANS) The Supreme Court on Wednesday rejected plea for bail by real estate major Unitech's Managing Director Sanjay Chandra and his brother Ajay Chandra who are in jail since August 7, 2017 allegedly for cheating the home buyers.

A bench of Justice D.Y. Chandrachud and Justice M.R. Shah noted that the two brothers were granted bail on October 31, 2017 on the condition that they deposited Rs 750 crore, and that it has not been complied with. The bench said that their prayer for enlarging on bail is "misconceived."

The court also noted that the October 31 order asking the two to deposit Rs 750 crore was passed a bench of three judges.

The court noted that the total amount deposited so far was Rs 360 crore.

Having rejected the plea for grant of "custodial parole", the court today asked the trial court to frame charges expeditiously.

The court was informed that the investigating agency has already filed a chargesheet and also a supplementary chargesheet.

The counsel for the investigating agency told the court that initially there was one complainant, but after that another 173 aggrieved home buyers have lodged complaints.

Appearing for Chandras, senior counsel Abhishek Manu Singhvi pitched his case for the grant of bail on the grounds of "liberty, Article 21 of the constitution and the earlier judgements of the top court."

The court did not accept the contention of the senior counsel that Chandras were sent to jail without following process of adjudication involving criminality.

Justice Chandrachud noted that the matter reached the top court in pursuance to proceedings in the subordinate courts on the basis of a complaint.

On the argument by Singhvi that during the period of their incarceration, they offered 2,839 flats to the home buyers, amicus curiae Pawanshree Agrawal said there was a difference between offer and actual possession.

(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)