Supreme Court Halts Proceedings Against Top Real Estate Executives Amid Fraud Allegations

The Supreme Court has paused legal action against IREO Group MD Lalit Goyal and Oberoi Realty MD Vikas Oberoi, who are facing allegations of cheating, criminal breach of trust, and forgery. The court has requested further investigation after the Punjab and Haryana High Court upheld the registration of an FIR against them.

The Supreme Court has intervened in criminal proceedings against two top real estate executives, IREO Group Managing Director Lalit Goyal and Oberoi Realty Limited Chairman and Managing Director Vikas Oberoi. Both executives face serious allegations, including cheating, criminal breach of trust, and forgery.

A vacation bench consisting of Justices PV Sanjay Kumar and Augustine George Masih issued a notice to the Haryana government following an appeal against the Punjab and Haryana High Court's June 6 order. The court will examine whether the filing of a second complaint constitutes an abuse of legal process.

The FIR was lodged based on a complaint from Advance India Projects Limited (AIPL), which accused IREO and Oberoi of conspiring to defraud investors and embezzling a substantial amount of money. The case against the executives will remain on hold as the investigation continues.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)