New Delhi, April 3: A court here on Monday extended the police custody of real estate company Unitech’s Managing Directors Sanjay Chandra and Ajay Chandra till April 6.
The Chandra brothers were booked for cheating buyers as Unitech first failed to complete a real estate project in Gurugram’s Sector 70 on time and then did not refund the money to buyers.
Meanwhile, some of the investors who were also present inside and outside the court room demanded that their money should be returned. They also raised slogans against the two outside the court premises accusing them of stealing their hard-earned money.
Saurabh Sachdev, an investor in the project, said till now construction has not started on the land.
“They have cheated us. They must return our hard-earned money,” Sachdev told IANS.
The Chandra brothers were arrested from their residence in Gurugram on Friday night by the Economic Offences Wing (EOW) of Delhi Police and a court here on Saturday sent them to two-day police custody.
The police on Monday told Additional Chief Metropolitan Magistrate Ashu Garg that their custody was required to ascertain the money trail and recover related documents.
The Investigating Officer (IO) informed the court that certain documents have been recovered from an office of the accused persons. However, more incriminating documents had to be recovered from their other offices to trace the money and its beneficiaries.
The IO claimed that the time granted initially was not sufficient to recover all incriminating documents, particularly with April 2 being Sunday.
“It is clear that further custodial interrogation of both the accused persons is necessary so as to recover the incriminating documents and to collect evidences from other offices of the accused persons,” the court said.
“Thus both the accused persons are remanded to police custody for another three days.”
There were 91 complaints against the Chandra brothers in connection with the project for which valid permission from the competent authority was not taken.
The project was to be completed by 2014.
The accused were booked on charges relating to criminal breach of trust, cheating and criminal conspiracy.
The police on Saturday told the court that Unitech had collected Rs 363 crore from 557 customers for the Anthea Floors residential project.
It also alleged that their licence was not approved by the competent authority for building the township.
The project was started in 2011 without getting environment clearance. Unitech obtained clearance in September 2013.
Even though it did not have environment clearance, the accused continued booking flats without giving the real picture to investors and thus misrepresented facts.