Delhi Court Denies Bail To 2 Real Estate Firm Directors In Fraud Case

Real Estate Fraud Case Delhi: Calling it a "serious economic offence", the court said since gullible investors were cheated of their hard-earned money, it does not find any ground for grant of bail to both the accused persons.

A Delhi court has denied bail to two directors of a city-based real estate company arrested for allegedly starting projects on land not belonging to the firm and selling the units without necessary approvals. Additional Chief Metropolitan Magistrate Abhilash Malhotra said the grant of bail in such economic cases needs to be dealt with strictly so that people do not lose faith in the criminal justice system. The judge said it is prima facie clear that accused Sushant Mutreja and Nishant Mutreja's company did not have a clear title with respect to the land in Uttar Pradesh. "The approval from the Competent Authority, Ministry of Environment, Government of India and Central Ground Water Authority was not taken and the projects were launched illegally," the court said in an order dated July 14.