Sushant Mutreja: Two directors of a real estate company placed in judicial detention | Delhi News
Additional sessions Judge Mohinder Virat, in an order issued Wednesday, placed Sushant Mutreja and Nishant Mutreja in judicial detention for 14 days.
They were already in prison in connection with other suspected cheating cases.
The duo were arrested on August 16 after which the court took them into custody by the Serious Fraud Investigation Office (SFIO) for two days where they were questioned about the alleged fraudulent transactions.
During the hearing, the SFIO told the court that Sushant and Nishant abused their position at the real estate company to deceive buyers and investors and gained themselves an unfair advantage.
The corporate fraud investigation agency further informed the court that the investigation to date has revealed that a fraud of over Rs 50 crore was carried out by them in collusion with each other. others.
The judge, by sending them back to two days in police custody at the SFIO on August 16, had found that the offense allegedly committed by them was of “serious nature”.
They are also accused in other cases of deceiving rupee crore investors by not delivering possession of apartments and properties to Delhi-NCR.
They deceived 893 victims of more than 126 crore rupees nationwide by failing to hand them over possession of the units or paying for insured returns, added sessions judge Kamini Lau said while rejecting their bail on 2 August.