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Supreme Court Denies Bail To Unitech Directors Sanjay Chandra, Ajay Chandra: 10 Points
23 Jan 2019, 04:26 PM IST
- Sanjay Chandra and Ajay Chandra have been in jail since August 9, 2017.
- Both have sought bail on the ground that they are complying with the top court's order and have deposited over Rs 400 crore.
- The top court was informed that out of the total of around 16,000 homebuyers in the case, around 9,390 sought either a refund from the developer or possession of flat.
- Around 4,700 buyers wanted a refund, the court was told.
- The Supreme Court had in October 2017 ordered the real estate developer to deposit Rs 750 crore with the court's registry.
- The top court had directed the jail authorities to facilitate Sanjay Chandra's meeting with his company officials and lawyers in order to arrange the money.
- It had also said that Sanjay Chandra was only entitled to negotiate in respect of unencumbered properties or assets of the group.
- Sanjay Chandra's counsel had told the court that if they were given liberty, they would monetise their assets and be able to complete the ongoing projects.
- In September 2018, the Supreme Court had directed the company to construct 514 flats in its five projects out of the funds generated from auctioning of its Kolkata property.
- The Delhi High Court had in August 2017 rejected the plea in a criminal case lodged in 2015 by 158 homebuyers of Unitech projects Wild Flower Country and Anthea situated in Gurgaon, Haryana. (With agency inputs)
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