Unitech MD Sanjay Chandra, brother arrested by Delhi Police for duping flat buyers

Unitech MD faced allegations of duping homebuyers after the real estate giant failed to hand over possession of houses in its Greater Noida project

Two people, including real estate firm Unitech Managing Director (MD) Sanjay Chandra, arrested by the Economic Offences Wing late last night, will be produced in a Delhi court on Saturday. Chandra and his brother will be produced before the court post 2 p.m. According to sources, Chandra is accused of duping buyers who had booked flats in his real-estate project in Greater Noida.

Home buyers had accused Unitech of not completing the project and non-payment of their money along with interest. Allegations are also that Chandra fraudulently took money from his clients and parked it in a shell company, thereby laundering it abroad. Earlier, Chandra was arrested by the Central Bureau of Investigation (CBI) in the 2G trial. Chandra had bid and won licence for the Telecom project which he later sold to Norway company Telenor.

Unitech MD faced allegations of duping homebuyers after the real estate giant failed to hand over possession of houses in its Greater Noida project. Over two dozen home buyers of Unitech’s housing projects in Noida and Gurugram had approached the National Consumer Disputes Redressal Commission (NCDRC) after the builder had failed to give them possession of their flats as the per schedule. The company had promised to hand over the possession of flats in 2012, but failed to meet the deadline.

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