Delhi HC Grants Bail to Ex-Director Of Unitech Ramesh Chandra In PMLA Case
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Synopsis
Chandra, who was one of the Directors of Unitech Limited, was involved in serious offences, involving the diversion of funds to the tune of about Rs.5,826 crore belonging to home buyers, who stand duped and are shelter-less.
The Delhi High Court, on Friday, granted regular bail to Ramesh Chandra, former director of the Unitech Group, in a money laundering case on Friday. Previously, he had been released on interim bail due to his medical condition, effective from July 28, 2022. This interim bail had been extended periodically for over a year and a half. Justice Jasmeet Singh delivered the judgment, although a detailed copy of the judgment was still awaited.
Ramesh Chandra, along with his daughter-in-law Preeti Chandra and a company executive, were arrested under the provisions of the Prevention of Money Laundering Act (PMLA). His sons, Sanjay Chandra, and Ajay Chandra, were been implicated in the case for allegedly misappropriating funds collected from homebuyers. Authorities accused the Chandra family of unlawfully transferring more than Rs 2,000 crore to foreign accounts. The Enforcement Directorate (ED) had conducted multiple raids and seized properties valued at Rs 672.52 crore.
During earlier hearings, the court acknowledged the gravity of the offenses, particularly the misappropriation of Rs 5,826 crore, which had left numerous homebuyers defrauded and without homes.
The court emphasized that although bail under the stringent provisions of the PMLA remained subject to strict scrutiny, medical grounds could be considered under exceptional circumstances. It noted that in cases where an illness posed a severe and life-threatening condition requiring specialized treatment unavailable in prison facilities, bail could be granted. The court further clarified that each application for bail based on medical conditions must be examined on a case-by-case basis, relying on medical reports and the accused's specific health status.
"The sickness has to be serious and life threatening and treatment required is to be specialized which cannot ordinarily be provided in the Jail Hospital or in custody", the court outlined in the previous order
For Chandra: Senior Advocate Rebecca M John with Advocates Vishal Gosain, Anuroop Chakravarti and Pravir Singh
For ED: Special Counsel Zoheb Hussain, Standing Counsel Vivek Gurnani with Advocates Kartik Sabharwal, Pranjal Tripathi and Kanishk Kochar
