by naveenarichwal » Fri Jul 31, 2015 12:14 pm
District court rejects Adel Landmarks CMD's bail
[b]The district court on Thursday dismissed the bail plea of the chairman and managing director of Adel Landmarks (formerly ERA Landmarks), H S Bharana, who is accused of duping investors of Rs 1,000 crore on the pretext of giving them flats in real estate projects in sectors 103, 68 and 86.
Gurgaon Police had arrested Bharana on July 14 from IGI Airport. However, the other accused, including three directors of the company, are still on the run.
On Thursday, Bharana was produced in the court of additional district and sessions judge Phalit Sharma, which rejected his bail application in one of the many fraud and cheating cases, after hearing arguments of both the parties.
Bharana, who has been admitted to PGIMS Rohtak after he complained of illness on Wednesday, was not present during his bail plea hearing. His police custody ended Wednesday and is now in the hospital under judicial custody, police said.
According to B P Gautam, one of the victims, Gurgaon Police had organized a meeting of the flat buyers with the accused while he was in police remand on July 18.
"Almost 75 investors, including me, attended the meeting called by police commissioner Navdeep Singh Virk in his office," Gautam said.
He claimed that they were invited by the cops to the meeting with Bharana and other company officials, where they proposed various solutions, prima facia due to the compulsion of arrest and sought relief from home buyers so that the accused could arrange bail for himself and avoid immediate prosecution.
When asked about the meeting, Virk had said that it was a mediation meeting to sort out the issues between the investors and the developer.
Sanjeet Maan, another investor, told TOI that the investors were also made to sign a document, which stated that they will not oppose the bail plea.
"The developer has produced these same documents to the court for Bharana's bail," he said.
Mann, however, said that even after the district courts have rejected all three of Bharana's bail applications, the police are yet to arrest three other directors of the company against whom arrest warrants were also issued.
The investors, however, expressed satisfaction over the dismissal of the bail plea of Bharana and said they are hopeful of getting justice.
[/b]pleahttp://realty.economictimes.indiatimes.com/news/regulatory/district-court-rejects-adel-landmarks-cmds-bail-plea/48290143?utm_source=Mailer&utm_medium=ET_batch&utm_campaign=etrealty_news_2015-07-31