The Delhi High Court has granted regular bail to Unitech founder Ramesh Chandra in a money laundering case. Justice Jasmeet Singh’s bench issued the order with certain conditions. Chandra, accused of embezzling ₹5,826 crore from home buyers, was previously on interim bail for over one and a half years due to medical reasons.
Ramesh Chandra was arrested in October 2021. In July 2022, the court granted him interim bail on medical grounds. His lawyer argued that he is over 85 years old and requires constant medical care. The court extended the interim bail multiple times as his health condition showed no improvement. After spending one and a half years on interim bail, Chandra finally surrendered before the jail authorities.
The Delhi High Court considered the AIIMS medical board’s report, which stated that his condition was not life-threatening and that treatment was possible in jail. However, the court directed jail authorities to evaluate his health at least twice a week and provide necessary treatment.
The Chandra brothers, in jail since 2017, are accused of misusing home buyers’ funds. Sanjay Chandra and his brother Anya Chandra were former promoters of Unitech. The Enforcement Directorate (ED) also arrested Sanjay Chandra’s wife, Preeti Chandra, and Rajesh Malik, an executive of Carnoustie Group.
The ED told the Supreme Court that the Chandra brothers continued running their business from Tihar Jail with the help of jail officials. Following this, the Supreme Court shifted them to Tajola Jail in Mumbai. The ED later raided 35 locations linked to Shivalik Group, Trikar Group, Unitech Group, and Carnoustie Group in Mumbai and Delhi. The agency reported that the case involved ₹7,638.43 crore in crime proceeds.
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