New Delhi: The Supreme Court on Monday directed Unitech to deposit Rs750 crore by December to secure bail for its director Sanjay Chandra, who is in jail in a case of alleged forgery lodged by buyers of Unitech’s housing project in Gurugram.
The court also directed jail authorities to facilitate visits by people, officials, employees and lawyers within the normal visiting hours of the jail premises to aid Chandra facilitate the refund process.
Unitech told the court that it would like to monetize its unencumbered properties and assets to recover money that would be used for the process of refunding buyers and completion of projects.
A list of unencumbered properties and assets was submitted to the court in a sealed cover.
The court has also ordered the setting up of an online portal for those who have invested in Unitech’s project through fixed deposits.
A total of 4,688 home buyers are claiming a refund of Rs1,865 crore from Unitech in various projects undertaken by the real estate company.
Amicus curiae Pawan Shree Agrawal had told the court the figures were based on entries submitted by home buyers on a website—created to maintain accounts of Unitech’s different projects, home buyers and the extent of refunds granted to each of them.
On 15 September, the court had denied interim bail to both Sanjay and his brother Ajay Chandra and asked for a detailed list of refunds made by the firm to home buyers.
In addition, the court had asked amicus curiae Agrawal to maintain accounts of Unitech’s various projects, home buyers and the extent of refund granted to each of them through a designated website.
On 1 April, the court sent both the accused to police custody after the prosecution said their custodial interrogation was required to unravel the alleged money trail, beneficiaries of transactions and recovery of project-related documents and other evidence.