Unitech MD, brother held

Sanjay Chandra, managing director of real estate firm Unitech, and his brother Ajay Chandra were arrested on Saturday on charges of duping people who funded a housing project.

The brothers were apprehended by Delhi Police’s Economic Offences Wing (EOW) following complaints that 91 people who invested Rs 35 crore in the housing project did not get their flats or a refund.

They were also accused of investing the money collected from these people in a shell company. Chandra was arrested in 2011 in the 2G spectrum case. “The accused, Unitech MD Sanjay Chandra and Ajay Chandra, have been arrested for not developing a project, Anthea Floors, at Gurugram. Ninety-one people have invested Rs 35 crore in the project. The probe into the case is being monitored by a trial court,” the police said.

The brothers were produced before a Delhi Court, which sent them to police custody till April 3.
The police had claimed in the court that the duo was not cooperating with the probe. However, the lawyer for the brothers opposed the remand plea and said the police has already searched the premises of the accused and they cannot be forced to give any incriminating evidence against them.