NEETU SINGH Vs. STATE NCT OF DELHI

JUDGEMENT

(1.) The present application is filed under Sec. 439 of the Code of Criminal Procedure, 1973 ("Cr.P.C') for grant of Regular bail in FIR No. 54/2016, dtd. 5/5/2016, under Ss. 406/420/120B/174A of the Indian Penal Code, 1860 ("IPC'), registered at Police Station Economic Offences Wing, Delhi.

(2.) The FIR No. 54/2016 was registered at the behest of a joint complaint of ten complainants, Ms. Nidhi Singh and others, alleging that M/s Value Infracon India Private Limited (hereafter 'Company') had assured the complainants of providing flats in the Meadows Project but on the contrary defrauded the complainants by selling the already allotted flats to different buyers, multiple times. It was also alleged that the company had siphoned approximately Rs.10.00 crores, with regard to the booking of thirty-one flats received from the complainants, to the accounts of its sister concerns.

(3.) It is alleged that the company, through its Managing Director, Mr. Pramod Kumar Singh, who is the husband of the applicant, and other Directors, launched a housing project namely 'Meadows Vistas' situated at Village Morta, Raj Nagar Extension, Ghaziabad. It was assured by the company that the project shall be completed within a period of three years from the date of booking and that the flats were free from all kinds of encumbrances and the title was clear.