Monty Chadha, vice-chairman of the Wave Group, was arrested on June 12 by immigration officers at Delhi’s IGI airport. 9express Photo)A Delhi court Monday granted bail to late liquor baron Ponty Chadha’s son Manpreet Singh Chadha, better known as Monty Chadha, who was arrested last week in a case involving alleged failure to hand over a Rs 100-crore township in Ghaziabad to home buyers.
Additional Sessions Judge Gulshan Kumar, however, imposed restriction on movement of the accused and said that he should not leave the country without the court’s permission.
“In the present case, it has been admitted by parties that the matter/dispute has been amicably settled between them… It is also stated by the counsel for the applicant/accused that in case any other investors come forward, the applicant/accused will settle the matter. When the applicant/accused… have already settled the matter with the complainants…, the present application deserves to be allowed,” the court said.
In court, senior advocate Vikas Pahwa, appearing for Monty, said, “Settlement has been done with all the claimants who had filed the case.”
Monty, vice-chairman of the Wave Group, was arrested on June 12 by immigration officers at Delhi’s IGI airport while he was travelling with his family to Phuket in Thailand for vacation.
The FIR has been registered by the EOW of the Delhi Police on a complaint made by K Ramesh, Kaveri Ramesh and others under various sections of the IPC, including cheating, criminal breach of trust and criminal conspiracy.
