NEW DELHI: The Supreme Court Friday dismissed the bail plea of Unitech Ltd promoter Sanjay Chandra, who was granted interim bail for 30 days on “humanitarian grounds” as both his parents had tested positive for Covid-19, and asked him to surrender by August 17.
The apex court also dismissed the bail application of Chandra’s brother Ajay Chandra, who is in jail since August 2017. They both are accused of allegedly siphoning off home buyers’ money. “At this stage, we are clearly of the view that since the order dated October 30, 2017 has not been complied with, there is no question of this court directing the release of the applicants (Sanjay and Ajay Chandra) from custody,” a bench of Justices D Y Chandrachud and M R Shah said, adding, “Both the applications stand dismissed.” The top court in its October 2017 order had asked them to deposit Rs 750 crore with the apex court registry by December 31, 2017.
The bench had on July 7 granted interim bail for 30 days to Sanjay Chandra, who was in jail since August 2017. Later, the court had extended his interim bail till Friday. In its order passed on Friday, the apex court said, “Sanjay Chandra, who had been granted interim bail by the orders of this court dated July 7, 2020 and July 31, 2020 on the ground of the Covid status of his parents, shall surrender by August 17, 2020.” The bench was dealing with the applications in which both Sanjay and Ajay Chandra have claimed that they have complied with the condition imposed by apex court.
Respite for home buyers
On January 20, in a respite to over 12,000 hassled home buyers of Unitech, the top court had allowed the Centre to take total management control of the realty firm and appoint a new board of nominee directors. The apex court had approved the name of retired Haryana cadre IAS officer Yudvir Singh Malik as CMD of the new board and directed that existing board of directors of the company would stand superseded. In 2018, the top court had directed a forensic audit of Unitech Ltd.