Unitech yet to hand over 16,000 flats, Supreme Court denies bail to MD

NEW DELHI: Adopting a non-negotiable approach to protect homebuyers, the Supreme Court refused to release Unitech managing director Sanjay Chandra on interim bail on Thursday after learning the realtor had not delivered 16,299 flats, for which it had received Rs 7,816 crore. "Every individual's liberty is precious. But in this case, the court has to strike a balance between one individual's liberty and the tears of 16,299 homebuyers, who have been running after a mirage for years after investing their hard-earned money in projects undertaken by Unitech. When you are seeking wings of liberty, the court cannot close its eyes to the tears of 16,299 flat-buyers," the CJI-headed bench said.

The stance will have a bearing on homebuyers, whose money is stuck with Jaypee Infratech and Amrapali for years and who have been waiting for redressal of their grievances.

The bench, headed by CJI Justice Dipak Misra and comprising Justices Amitava Roy and A M Khanwilkar, rejected the argument of Chandra's counsel Salman Khurshid that his client's incarceration had breached the principle of jurisprudence — bail should be the rule and jail the exception — crafted and adhered to by the SC itself.

Chandra was arrested on a criminal complaint filed by homebuyers accusing Unitech of cheating them by not keeping promise of handing over flats+ in Gurgaon's "Anthea Floors".

The SC asked the 16,299 Unitech homebuyers to access a portal created by amicus curiae Pawan Shree Agrawal and Flat or refund, your pick: Supreme Court to Unitech buyers+ . The court said those who have already taken possession of flats will not be entitled to indicate their choice.



Agrawal handed over a chart to the court explaining that Unitech had taken up 74 housing projects across the country and had fully delivered flats in 13 projects. The chart gave details of 31 projects where 16,299 flats were yet to be delivered and for which Unitech had already collected Rs 7,816 crore.