Unitech HomeBuyers take action against Builder

Unitech home buyers

On Friday interim bail request of real estate firm Unitech managing directors Sanjay Chandra and his brother Ajay Chandra has been refused by the Supreme Court of India. The Supreme Court said that it will consider the matter on September 15 in case of an alleged forgery by the home buyers of Unitech’s Gurugram-based Anthea Floors Wildflower Country project. Bench of chief justice Dipak Misra said that the court will look into the aspect of granting interim bail to Sanjay and Ajay Chandra next week after getting the details of number of projects, flats and home buyers and adjourned the matter for further hearing. The bench also appointed advocate Pawan C. Aggrawal as amicus and asked him to furnish all these details, including those who want refunds and those who seek flats.

The Supreme court clears that the buyers who are seeking refunds will be given the money on the pro-rata basis and those who want flats will be given the same.

Related Post: SC declines bail to Unitech promoters; allot flats by March 18 or refund money

Sanjay’s advocate Abhimanyu Bhandari said that he had complied with all the conditions of the court and deposited Rs 20 crore till date. He argued that he will be able to refund the investor’s money only if he is allowed to work from his office and raise funds.

According to Chandra brothers, they are in an advance stage of reaching to a cooperative settlement with more complainants and to ensure success of settlement cases, they need to attend their office and manage affairs of the company to raise and generate liquidity at the earliest. Both the brothers have filed a plea to challenge the order of the Delhi High Court which came on August 11 that refused to grant interim bail to them and rather asked them to file the status report.

Five home buyers of the Unitech Anthea Floors Wildflower Country project including New Delhi residents led by Arjun Bedi and others, filed an FIR against the company in 2015.

After that, 90 more complaints were registered against the firm for the same project which were clubbed together with the FIR. The buyers alleged that the Unitech didn’t return the money to them when they sought refund of their investment for delay in handing the possession of their flats in the Unitech’s housing project in Gurgaon. They also accused the developer of duping several people.

After almost 2 years, Economic Offence Wing (EOW) of Delhi Police arrested Unitech’s both MDs for failing to finish the residential project in time in Sector 70 of Gurugram. Police also had restrained them from getting bail in this matter, according to the petition. The Chandras were booked under section 409 (breach of trust), 406, 120 (b) (concealing criminal offence) and 420 (cheating) of the Indian Penal Code (IPC).

Despite the police claiming in their status report that the matter was of civil nature, trial court directed the police to register FIR against Unitech in compliance of its 27 July, 2015 report.

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