Delhi High Court Grants Bail to 86-Year-Old Unitech Promoter in Money Laundering Case

The Delhi High Court has granted bail to 86-year-old Ramesh Chandra, former Unitech Group promoter, in a money laundering case. Considerations included his age, health, and completion of investigations. The case involves numerous FIRs against Chandra and associates for defrauding homebuyers and money laundering under PMLA.

The Delhi High Court has granted bail to Ramesh Chandra, the 86-year-old former promoter of Unitech Group, in a significant money laundering case. Chandra, arrested on October 4, 2021, received interim bail on medical grounds in August 2022, citing his advanced age and various health issues.

Justice Jasmeet Singh, presiding over the case, approved Chandra's release against a personal bond of one lakh rupees after recognizing his classification as 'infirm' under the Proceeds of Crime (Prevention) Act. The court also considered the complexities and extensive volume of evidence, which delay the trial's commencement.

Chandra's bail, embraced despite extensive charges and numerous FIRs against Unitech Group promoters since 2006, highlights considerations of age, health, and the absence of risk during interim bail. Allegations of fund mismanagement and defrauding homebuyers loom large, continuing to draw significant legal scrutiny.

(With inputs from agencies.)