2026 (8) TMI 1220

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....cts of the case are that the petitioner/accused, acting as Managing Director of M/s. Sahiti Infratec Veritures India Private Limited, had from June 2019 onwards advertised a "Pre-Launch Offer" on social media for construction of a world-class residential gated community consisting of 32 floors and 10 towers over an extent of about 23 acres in Sy.No.s 343/8, 343/9, 343/11, 343/12 and 343/13 of Ameenpur Village, Ameenpur Mandal, Sangareddy District. Pursuant to such representations, the defacto complainant along with 240 other customers paid a total sum of Rs.72,81,98,000/- to the company; however, the company failed to acquire the requisite land, secure statutory permissions, deliver the promised flats, or refund the amounts received. Furthe....

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....s, and his statements were duly recorded, and that the prosecution complaint filed against him was returned with objections, due to which his continued detention amounts to punitive pre-trial incarceration contrary to constitutional safeguards under Article 21, as recognized in the case of Joginder Kumar v. State of U.P. and Som Mittal v. Govt. of Karnataka [1994 4 SCC 260] He further contended that the petitioner has challenged the predicate FIR, that multiple complaints were clubbed for joint investigation, and that the Enforcement Directorate is projecting exaggerated figures of FIRs to deny bail. 5. Learned senior counsel for petitioner incessantly submitted that petitioner is a law-abiding citizen with no antecedents, has been in cu....

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....Sales & Marketing Head of M/s SIVIPL, actively inducing customers, selling inventory without approvals, collecting funds in cash and through banking channels, diverting them to accounts of his relatives and entities controlled by him, and misappropriating homebuyers' money. He lamented that his resignation in 2020 does not absolve him, as money laundering is a continuing offence and he continued to be associated with the group thereafter. He asserted that the statements of homebuyers, forensic audit findings, bank trail analysis and documentary evidence corroborate his involvement. He emphasized that multiple FIRs involving fraud of over Rs.359.54 crores are under investigation, that co‑accused bail petitions have been rejected, and t....