Court grants bail to Unitech officials

A magisterial court here on Monday sent Unitech chairman, two managing directors and a director to 14 days judicial custody in alleged cheating cases filed by two investors but the sessions court later granted the three interim bail.

Additional Chief Metropolitan Magistrate Gaurav Rao denied bail to Unitech chairman Ramesh Chandra, MDs Sanjay Chandra and Ajay Chandra and group director Minoti Bahri after they appeared before him on pursuance of non-bailable warrant issued against them, and ordered they be sent to judicial custody till January 25.

Later they moved a bail application before Additional Sessions Judge Vimal Kumar Yadav, who granted them interim bail till January 14.

The sessions judge asked them to furnish a personal bond of Rs. one lakh and a surety of like amount each.

A complaint was filed by chartered accountant Sanjay Kalra and his business partner Deepak Wadhwa, claiming they had 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.