The Supreme Court today granted conditional interim bail to Sanjay Chandra and Ajay Chandra, two promoters of real estate firm Unitech Ltd, in a fraud case lodged by home buyers of its Gurugram-based housing project. The court then asked the Chandras to deposit Rs 5 crore more with the registry by September 8 for grant of conditional interim bail for four weeks. The bench also asked the real estate company to deliver the possession of flats, which are ready, to over hundred buyers by September 6. "The said amount shall be invested in an interest bearing short term deposit in the UCO Bank, Supreme Court Compound, New Delhi." Sanjay Chandra and his brother Ajay Chandra had moved the apex court against the August 11 order of the Delhi High Court that had refused to grant interim bail to them and asked them to file a status report.

Source: Economic Times September 01, 2017 15:40 UTC