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The Supreme Court of India has asked Sanjay and Ajay Chandra, former promoters of real estate company Unitech, to approach the court for bail or other reliefs in cases related to alleged swindling of funds of home buyers. The court has set aside an order by the Chief Metropolitan Magistrate (CMM) of Patiala House Court in January 2021, which granted the Chandras bail. The bench comprising Chief Justice DY Chandrachud and Justice MR Shah said the CMM's order was "erroneous" and "unsustainable." The top court had on March 18, 2021, stayed the CMM's order and directed the two to surrender to Tihar Jail authorities.
The Chandras' counsel said the brothers had already served more than five years in custody for the alleged offences and had fulfilled the condition of depositing INR 7.5bn ($100m) in the Supreme Court registry, so they should be granted regular bail. However, the bench said the deposit of INR 7.5bn was argued earlier but was rejected by the court, citing a breach in adhering to the timeline indicated by the court.
The top court had asked the Chandras to deposit INR 7.5bn as a precondition for bail in October 2017. In August 2021, the court directed the former Unitech promoters to be shifted from Tihar Jail in Delhi to Arthur Road Jail and Taloja Jail in Maharashtra after two reports of the Enforcement Directorate suggested the connivance of Tihar Jail staff in flouting the orders.
The ED's investigation of money laundering charges against the Chandras and Unitech has revealed that the brothers have been freely communicating, instructing their officials, and disposing of properties from inside the jail in collusion with the prison staff. Both were initially arrested in a criminal case, which started with one complaint lodged in 2015, and another 173 home buyers of Unitech projects, namely WildFlower Country and Anthea Project situated in Gurugram, joined later. Several cases were lodged by Delhi police, CBI, and ED against the former Unitech promoters and other officials of the company.
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