SC refuses bail to Unitech promoters

SC refuses bail to Unitech promoters
24/01/2019 , by , in News/Views

The Supreme Court Wednesday refused bail to Unitech promoters Sanjay Chandra and Ajay Chandra in a case relating to alleged siphoning off the home-buyers’ money.

A bench of Justices D Y Chandrachud and Hemant Gupta said they have not complied with its October 30, 2017 order which asked them to deposit Rs 750 crore with the apex court registry.

Lodged in Tihar jail for over one and half years, the two have sought bail on the ground that they are complying with the apex court order and have deposited over 400 crore.

The apex court had on October 30, 2017 ordered that the Unitech Limited Managing Director Sanjay Chandra will be granted bail only after the real estate group deposits Rs 750 crore with the registry.

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