Unitech MD Sanjay Chandra Remanded by Delhi Police

On Saturday the Delhi Police of the Economic Offences Wing (EOW) arrested the Unitech Managing Director Sanjay Chandra, his brother Ajay Chandra and one more in regard to financial irregularities. Sanjay has been placed under arrest for investing funds of one project into a different company illegally. He is said to have money into other company by taking the route of foreign accounts investments. He along with his brother will be presented in the Patiala House Court of Delhi today.

Unitech is a real estate company which has been surrounded by controversies after its MD was arrested in January 2016. He was charged with cheating and spent a night in Tihar Jail before he got out on interim bail. In 2016 chartered accountant Sanjay Kalra and his business partner Devesh Wadhwa filed a case against Chairman Ramesh Chandra, MD Sanjay and Ajay Chandra, director Minoti Bahri.

The duo bought property in the Habitat Apartments in Greater Noida which was being developed by Unitech. The Company refused a refund of the amount with 11% interest as promised even after the project was delayed considerably. This agitated Karla and Wadhwa who approached the police regarding this.