Sanjay Chandra bail: SC tells Unitech to pay up Rs 15 cr first

The Supreme Court today asked jailed Unitech promoter Sanjay Chandra to furnish Rs 15 crore for his release from the prison.The next hearing date on his bail plea  is on September 18.

Unitech group’s promoters  Sanjay Chandra and his brother Ajay Chandra were sent to jail for alleged cases of money laundering.

Chandras have been accused of not keeping promises by not delivering flats to buyers who had booked flats with Unitech’s residential project in Gurugram. The buyers alleged that Unitech failed to complete the project on time and refund the money. 

The case was registered by residents Arun and Urmila Bedi in 2015. They had booked a flat in Wild Flowers Country in Gurugram for a sum of Rs 60 lakh in August 2011.

The company had collected Rs 363 crore from buyers and had allegedly invested in a shell company.There are more than 15000 buyers in Noida, Yamuna Expressway and Gurugram who have not got the possession of their respective homes.

"We are happy with the decision and have full faith in judiciary" said an aggrieved Unitech homebuyer. 

Written by The Realty Paper

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