Unitech top bosses sent to 14-day judicial custody, move fresh bail plea

New Delhi: A Delhi court on Monday sent Unitech Ltd Chairman and its two Managing Directors to 14-day judicial custody in alleged cheating cases filed by two investors.

The company's Chairman Ramesh Chandra, MDs Sanjay Chandra and Ajay Chandra and Group's Director Minoti Bahri were sent to judicial custody till January 25 by Additional Chief Metropolitan Magistrate Gaurav Rao in connection with the two complaints.

The court denied them bail when the accused Unitech officials, who appeared in the court in pursuance to the non-bailable warrants issued against them, sought relief saying that due to financial constraints and circumstances beyond their control, they were not able to make the payment to the complainant.

"All the bail applications dismissed. Accused be sent to judicial custody till Jan 25" the ACMM said.

Immediately after their bail pleas were dismissed, the accused officials, through their counsel Vijay Aggarwal, approached the District Judge for relief, with their application being marked to Additional Sessions Judge Vimal Kumar Yadav.

The complaint was file by chartered accountant Sanjay Kalra and his business partner Devesh Wadhwa, who had claimed to have booked a property in Habitat Apartments in Greater Noida developed by Unitech Ltd but were not given possession.

Despite the court's earlier order, Unitech has not refunded them the complete payment, they said in the complaint.