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New Delhi: Former promoter of Unitech Sanjay Chandra And Ajay Chandra on Wednesday urged the Supreme Court to either hear their bail pleas or allow them to approach a lower court to seek relief in a financial fraud case in which they have been in custody for over five years.
During the hearing, the apex court asked Noida Authority To process the layout and construction plans of Unitech Groupwithout demanding advance payment of dues.
A bench of Chief Justice DY Chandrachud and Justice MR Shah was told by senior advocate Siddharth Dave, appearing for the Chandra brothers, that the two have been in jail for over five years and six months in a case registered by the Economic Offenses Wing (EOW). of the Delhi Police for financial fraud, for which the maximum punishment is seven years’ imprisonment.
The bench asked what happened to the pre-condition of depositing Rs 750 crore in the court to get bail.
Dave said that condition was imposed in the interim bail application but now the charge sheet has been filed and they are seeking regular bail.
“We want either this court to hear our regular bail plea or allow us to approach the concerned court for bail plea,” he added. has been filed.
The bench then asked Dave to file all the relevant orders passed in the matter and said that keeping a person behind bars does not give any pleasure to the court.
“We will see what can be done,” the bench said.
During the hearing, Additional Solicitor General N Venkataraman, appearing for the board of Unitech Group, said that they have got homebuyers’ approval for construction of housing societies in Sectors 96, 97, 98, 113 and 117. Noida,
“We want our building plans, layouts and other approvals to be granted by the authority without demanding advance payment of dues,” Venkataraman said. They said they would pay the current charges.
Senior advocate Ravindra Kumar, appearing for Noida Authority and Greater Noida Authority, said that there are no home buyers and Unitech Group wants to construct buildings without paying dues.
“This court has to decide on payment of dues to the authority. The situation is different in Haryana as Unitech has bought land there but in Noida and Greater Noida we have allotted land to them,” he said.
The bench said that since home buyers have expressed confidence for construction of projects in Sectors 96, 97, 98, 113 and 117, the Noida Authority can process the layout, building plans and other approvals without seeking advance payment of dues. can give.
It has been said that this court will hear the arguments on payment of dues to Noida Authority and Greater Noida Authority later.
The apex court also allowed the release of around Rs 15 crore deposited by 548 fixed deposit holders on account of medical emergency, whose names have been cleared by a committee headed by Justice (retd) AM Sapre.
On August 17 last year, the apex court had asked the management board of Unitech group to upload on its website the details of completion of its stalled projects for the benefit of distressed homebuyers.
It also asked the board to upload within 48 hours the new revised payment plan under which homebuyers are required to make payments and asked flat buyers to give their suggestions or feedback, if any, to the management board. Which will facilitate the court. By passing orders in this regard.
The top court had said that the amount received from homebuyers or unsold inventory shall be used only for the construction purpose and shall not be allowed to be diverted for any other purpose.
It had also approved the plan of a committee headed by former apex court judge AM Sapre to provide homebuyers with particular urgent medical needs after consulting them for 15 days from September 15 to September 30, 2022.
The bench said that the Sapre committee will submit its report to the court by the first week of October, which on approval will be directed to release the funds to the home buyers.
The Noida Authority and the Greater Noida Authority have raised serious objections to aspects relating to payments to them and have stated that a large amount of land has been given to Unitech, which has failed to meet all kinds of deadlines, including starting construction at the site.
Kumar had pointed out that despite being statutory bodies, the Noida Authority and the Greater Noida Authority have been excluded from the dues and Unitech’s dues can be estimated to be around Rs 10,000 crore.
Sapre was appointed by the apex court to finalize the policy and standard operating procedure for monetization of Unitech’s project land assets and non-project land assets.
The ED had filed a fresh charge sheet before a court here in connection with its money laundering probe against realty group Unitech, its former promoter brothers Sanjay Chandra and Ajay Chandra and others.
The ED claimed in November, 2021 that it had unearthed a “secret underground office” here, which was being operated by Unitech founder Ramesh Chandra and was visited by his sons Sanjay and Ajay, out on parole or bail .
Both Sanjay and Ajay have been in jail since August 2017, on charges of allegedly siphoning off homebuyers’ money.
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