The case involves two bail applications (2722/2021 and 2746/2021) filed by Sidharth Chauhan seeking anticipatory bail in connection with FIR Nos. 97/2018 and 118/2018, registered under Sections 406/420/409/120B IPC at Police Station Economic Offences Wing, Mandir Marg, New Delhi. FIR 97/2018 pertains to the 'Estella' project, and FIR 118/2018 pertains to the 'NCR One' project, both located in Gurugram, Haryana. Allegations involve delays in construction, fraudulent diversion of funds, and cheating of homebuyers. The applicant, Sidharth Chauhan, is the Managing Director of Sidhartha Buildhome Pvt. Ltd., the company developing the projects.
Sidharth Chauhan, Managing Director of Sidhartha Buildhome Pvt. Ltd., sought anticipatory bail in connection with two FIRs related to the 'Estella' and 'NCR One' housing projects in Gurugram. The projects faced delays, leading to allegations of cheating and fund diversion. Forensic audits revealed misappropriation of Rs. 408.74 crores. Chauhan allegedly collected surplus amounts from homebuyers and obtained loans from banks, but did not utilize them for construction. He is accused of diverting funds to related entities, falsifying books of accounts, and failing to deposit External Development Charges (EDC) and Infrastructure Development Charges (IDC). The loans obtained by the company were declared as NPA. The applicant allegedly threatened witnesses, including the
…Sign in to view the parties.
FIR Nos. 97/2018 and 118/2018 registered under…
Corporate Insolvency Resolution Process (CIRP)…
The case involves two bail applications (2722/2021 and 2746/2021) filed by Sidharth Chauhan seeking anticipatory bail in connection with FIR Nos. 97/2018 and 118/2018, registered under Sections 406/420/409/120B IPC at Police Station Economic Offences Wing, Mandir Marg, New Delhi. FIR 97/2018 pertains to the 'Estella' project, and FIR 118/2018 pertains to the 'NCR One' project, both located in Gurugram, Haryana. Allegations involve delays in construction, fraudulent diversion of funds, and cheating of homebuyers. The applicant, Sidharth Chauhan, is the Managing Director of Sidhartha Buildhome Pvt. Ltd., the company developing the projects.
Sidharth Chauhan, Managing Director of Sidhartha Buildhome Pvt. Ltd., sought anticipatory bail in connection with two FIRs related to the 'Estella' and 'NCR One' housing projects in Gurugram. The projects faced delays, leading to allegations of cheating and fund diversion. Forensic audits revealed misappropriation of Rs. 408.74 crores. Chauhan allegedly collected surplus amounts from homebuyers and obtained loans from banks, but did not utilize them for construction. He is accused of diverting funds to related entities, falsifying books of accounts, and failing to deposit External Development Charges (EDC) and Infrastructure Development Charges (IDC). The loans obtained by the company were declared as NPA. The applicant allegedly threatened witnesses, including the
…FIR Nos. 97/2018 and 118/2018 registered under…
Corporate Insolvency Resolution Process (CIRP)…