Delhi court grants bail to ex-Unitech promoters Sanjay and Ajay Chandra

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Chandra brothers against whom the Economic Offences Wing (EOW) of Delhi Police have registered an FIR for cheating, criminal breach of trust and criminal conspiracy. The duo will, however, will continue to remain in jail as they are accused in a money laundering case.

The court said in an economic offence, the nature and severity of the allegations, the amount involved and the number of investors affected are the factors that influence its decision to grant bail. But, in a case where the accused have undergone a long period of incarceration and further inquiry and trial are likely to take considerable time owing to the humongous number of witnesses, the aspect of "nature and enormity of the offence has to be balanced out with the aspect of the fundamental right of the offender to ensure a speedy trial", it said.

The court said the duo was behind bars for more than six years and one of the charges against them under Section 420 of the Indian Penal Code (cheating and dishonestly inducing delivery of property) prescribed a maximum punishment of up to seven years. It said the number of witnesses cited by the prosecution was more than 240 and their examination would take substantial time considering the "overflowing dockets of the courts." "...The nature of the evidence (against them) being documentary in nature and there being no adverse report of the applicants having tampered with the evidence, the fact that in all the FIRs except the Prevention of Money Laundering Act (PMLA) case as informed, the applicants are already on bail, in my confirmed opinion, the case is now made out for grant of regular bail to the applicants," ASJ Budhiraja said.