Delhi court grants bail to Manpreet Singh Chadha in real estate fraud case

A Delhi court on Monday granted bail to Wave group Vice Chairman Manpreet Singh Chadha in a real estate fraud case.

Additional Sessions Judge Gulshan Kumar directed Chadha, son of late liquor and real estate baron Ponty Chadha to furnish a personal bond of Rs 50,000 with two sureties of the same amount. 

The court while granting bail to Chadha, stated that the businessman cannot leave the country without its prior permission.

Moreover, the court asked the Economic Offences Wing (EOW) why no investigation took place between January 2018 and June 2019 into the claims of the investors.

Last week, a magisterial court had rejected Chadha’s bail plea

Manpreet Singh Chadha aka Monty was arrested on June 13 by EOW of the Delhi Police from Indira Gandhi International Airport at Delhi

Chadha, the director of Uppal-Chadha Hi-tech Developers Private Limited is accused of cheating people of about Rs 100 crore by making fake promises on the name of promising a Hi-Tech township project in Ghaziabad near Delhi.