Interim bail of Unitech MD Sanjay Chandra extended by 45 days by Delhi High Court

Interim bail of Unitech MD Sanjay Chandra extended by 45 days by Delhi High Court

The Delhi High Court (HC) has extended the interim bail of Unitech Group's Managing Director (MD), Sanjay Chandra, by 45 days based on medical grounds

In 2017, the Supreme Court of India (SC) ordered a forensic audit of Unitech Ltd.(company) and its sister concerns and subsidiaries. It was found out that between the years 2006-2014, approximately Rs. 14,270 Crores received by Unitech from 29,800 homebuyers.

It was further reviled that the company has taken approximately Rs.1,805 Crores from six financial institutions for the construction of 74 projects, that the company had not utilized the money in any of its projects. The MD and his brother Ajay Chandra are in judicial custody since August 2017 and they are facing allegations of siphoning off homebuyers' money.

Recently, the completed management and control of the company was taken over by the Central Government after an order of the Supreme Court.

On behalf of the MD, it was submitted that his application had not been admitted by the Chief Metropolitan Magistrate (CMM) and Additional Sessions Judge. It was also pointed out that the MD was granted interim custody on 3 December 2020 by the Chief Metropolitan Magistrate. Interim relief was granted to the MD based on his health conditions and risk of complications due to co-morbidities.

The HC said, "Considering the medical condition of the applicant, this court considers it apposite to allow the present application and extend the interim bail granted to the applicant till 21 January 2021 on the same terms and conditions as set out in the order dated 3 December 2020 passed by the Learned CMM."

The HC also stated, "It is not disputed that the interim bail granted to various prisoners is now being uniformly extended."