Court orders proceedings against Unitech for cheating investor

A court here has allowed the plea of a man seeking proceedings against real estate firm Unitech Ltd and its top officials including managing director Sanjay Chandra for cheating an investor by not giving him possession of a flat in Greater Noida booked in 2006.

Additional Sessions Judge Sandeep Yadav last week allowed the petition filed by Gurgaon resident Paramvir Singh Narang seeking proceedings against Unitech and its top bosses under charges dealing with cheating, setting aside the magisterial court order rejecting the plea.

The sessions court ordered initiation of proceedings against accused Unitech Ltd, chairman Ramesh Chandra, managing directors Ajay Chandra and Sanjay Chandra and four other directors -- Anil Harish, Minoti Bahri, Ravinder Singhania and Sanjay Bahadur -- and asked Narang to appear before a magisterial court on July 4 to support his allegations.

Narang, who has challenged the magisterial court order, told the judge that he had filed the revision plea as he had paid an amount of Rs 39, 07, 582 to Unitech to book a flat in Unitech Cascades at Greater Noida, and as per agreement, the possession of the apartment was to be delivered by April 30, 2008 but the company failed to deliver on its promise.

"Since, respondents (Unitech) after receiving total agreement payment of Rs 39,07,582 neither offered possession of apartment nor refunded the amount with simple interest at 10 per cent per annum, it can be safely concluded that respondents were having guilty intention to cheat the petitioner from the very beginning of transaction," the judge said.

"Even the legal notice issued by the complainant to the accused persons was not replied," he noted.

--IANS

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