NEW DELHI: A city court on Saturday granted bail to ex-promoters of realty major Unitech Sanjay Chandra and Ajay Chandra in a case related to allegedly swindling home buyers.
The court noted they were in jail for about six years and further inquiry and trial would likely take considerable time owing to a large number of witnesses in the case.
The Chandra brothers, however, will continue to remain in jail as they are accused in a money laundering case.
Additional Sessions Judge Navjeet Budhiraja said the accused had “undergone a long period of incarceration” and “further inquiry and trial are likely to take considerable time owing to the humongous number of witnesses.” Therefore, “the nature and enormity of the offence have to be balanced out with the aspect of the fundamental right of the offender to ensure a speedy trial,” the judge said.
The court said the duo was behind bars for more than six years and one of the charges against them under Section 420 of the Indian Penal Code (cheating and dishonestly inducing delivery of property) prescribed a maximum punishment of up to seven years.
The court directed the duo to furnish bail bonds of ` 5 lakh each with two sureties of the like amount.