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A Gurgaon court has directed the police to start the process of declaring Ramesh Sankaformer CEO of IREO Residence Co. Pvt. Ltd., a “proclaimed offender”.
The order was issued after he returned without execution of the arrest warrant issued against him. The court said it was “satisfied that the presence of accused Ramesh Sanka cannot be secured by issuing non-bailable warrant”.
going A case was registered against Sanka and two others for allegedly extorting money from homebuyers by promising returns of their investment in the company’s project.
Gurgaon Police confirmed that they were in the process of implementing the order.
One of the lawyers representing IREO in the case said, “His anticipatory bail has already been rejected by the Gurgaon court and the Punjab and Haryana High Court… Sanka has no option but to surrender.” “
Sanka’s lawyer could not be reached for comment.
As per the FIR, the accused persons fraudulently misrepresented the records of the company to force them to execute contracts for taking undue advantage from the customers.
Sanka, prior to joining IREO, was the Managing Director of DLF Cybercity Developers Limited
IREO Residences is backed by IREO Fund, which was established in Mauritius in 2004 with the objective of developing residential, commercial and hospitality projects in India.
Legal experts said the local police would now declare Sanka a proclaimed offender and seek the help of other state police to arrest him.
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