HC extends interim protection from arrest to Pune builders

The Bombay High Court today extended till June 8 the interim protection from arrest given to Maple Group Chairman Sachin Agarwal and MD Naveen Agarwal who were booked for allegedly cheating people by publishing "misleading" advertisements in newspapers promising flats to buyers at cheaper rates.
Justice Reveti Mohite-Dere asked the Agarwal brothers to attend the concerned police station for three days next week and thereafter for two days in a week till June 8.
The Agarwal brothers feared arrest since an FIR was registered against them on April 19. Their company had put up advertisements in newspapers offering one BHK flats at Rs 5 lakh each by using photographs of Prime Minister Narendra Modi, Chief Minister Devendra Fadnavis and Pune Guardian Minister Girish Bapat.

Through the ads, the company claimed that their project 'Maharashtra Housing Day' was part of Pradhan Mantri Avaas Yojna (PMAY). In response to the ads, over 30,000 people had paid Rs 1,125 each to the company as initial deposit, the FIR lodged by police said.
Earlier, a Pune court had rejected their anticipatory bail plea, following which the duo moved the Bombay High Court which had granted them interim protection from arrest till today. The matter was kept today for further hearing.
Defence counsel Aniket Nikam argued that the company belonging to Agarwal was not a fly-by-night entity and they had started refunding money to people who had invested in their project for the one BHK flats.

Nikam said that in the event of any investor failing to apply for refund, the company was willing to deposit the amount due to the people in the high court.

Accepting the affidavit filed by the Agarwal brothers, the court continued till June 8 the interim protection granted to the duo two days ago.
Nikam argued that the company had not informed people that its housing scheme is under PMAY. As soon as the company was informed by authorities to stop bookings, it immediately discontinued the housing project. The company also started refunding charges.
As of now, the Maple Group has refunded more than half of the total amount received. The rest will be done as well, Nikam told the court.