The Supreme Court has stayed criminal proceedings against IREO Group Managing Director Lalit Goyal and Oberoi Realty Ltd Chairman and Managing Director Vikas Oberoi on charges of cheating, criminal breach of trust and forgery.
A vacation bench of Justice PV Sanjay Kumar and Justice Augustine George Masih issued notice to the Haryana government on a petition filed against the order of the Punjab and Haryana High Court.
“The question whether filing a second complaint would amount to an abuse of process and whether the complainant has approached the court with unclean hands requires further examination. Notice to the respondents … in the meantime , the bench said that further proceedings in connection with the FIR should be stayed.
The Supreme Court was hearing a petition filed by the IREO and Oberoi groups challenging the Punjab and Haryana High Court's June 6 order upholding the registration of the FIR.
The FIR was registered at the DLF Phase 2 police station on the orders of the Chief Judicial Magistrate, in connection with alleged fraud, criminal breach of trust and forgery by Advance India Projects Limited (AIPL). After the complaint made.
According to the FIR, IREO and Oberoi – both realty groups – are alleged to have conspired to cheat the allottees who had invested the funds since 2013 thereby not only defrauding the investors but also Cheated AIPL group too.
In its complaint, AIPL claimed that the IREO group embezzled around Rs 1,777 crore and transferred it out of the country. Of this amount, around Rs 1,376 crore was collected as advance from allottees, it alleged.
AIPL alleged that IREO collected Rs 400 crore from around 70 allottees in the Grand Hyatt Residency project in Sector 58, Chandigarh as part of this embezzlement scheme.
According to the FIR, not only the investors were defrauded but also the AIPL Group, which had entered into an MoU to complete the project and made substantial progress to settle the litigation. was
“After IREO's various issues ended with the AIPL contract, the company entered into a contract with another builder, the Oberoi Group, in bad faith and in violation of the terms and conditions of the contract. This led to AIPL The company suffered a loss of thousands of crores (Rs.),” the complainant said in the FIR.
Sections 409 (criminal breach of trust), 420 (cheating), 467 (forgery of valuable security), 468 (forgery with intent to defraud), 471 (use of forged document) and 120- A case was registered under B. Criminal Conspiracy) Indian Penal Code (IPC).
(Other than the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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