The Supreme Court on Friday granted conditional interim bail to Sanjay Chandra and Ajay Chandra, two promoters of real estate firm Unitech Ltd, in a fraud case lodged by home buyers of its Gurugram-based housing project.
A Bench comprising Chief Justice Dipak Misra and justices AM Khanwilkar and DY Chandrachud considered the statement made on behalf of the real estate barons that they have already deposited ₹15 crore with the apex court registry in pursuance of the order passed on August 24. The court then asked the Chandras to deposit ₹5 crore more with the registry by September 8 for grant of conditional interim bail for four weeks.
The Bench, meanwhile, directed lawyers Manjeet Singh Ahaluwalia, who represent some home buyers, and Abhimanyu Bhandari, the counsel for the Chandras, to assist the apex court registry in disbursing the deposited money on a “pro-rata” basis to home buyers who wanted their money back.
It also asked Unitech to deliver the possession of flats, which are ready, to over 100 buyers by September 6.
Earlier, after hearing the parties, the Bench had said: “We think it appropriate to direct the petitioner to deposit a sum of ₹15 crore before the Registry of this Court within two weeks hence.
“The said amount shall be invested in an interest bearing short term deposit in the UCO Bank, Supreme Court Compound, New Delhi.”
Five buyers of Unitech’s Anthea Floors Wildflower Country project, led by some New Delhi residents, had filed a complaint for registration of FIR against the real estate company in 2015.