Bail to firm director in laundering case
The Punjab and Haryana High Court has granted bail in a money laundering case to Sikandar Singh – “director/promoter” of Mahira Homes. The Directorate of Enforcement (ED) had, among other things, alleged that the petitioner had “duped approximately 1,500 home buyers to the tune of about Rs 363 crore”.
The ruling by Justice Sindhu came in an enforcement case information report (ECIR) registered under the Prevention of Money Laundering Act. The Bench was told that Sikandar Singh was the director/promoter/major shareholder of Mahira Homes Pvt Ltd –– the parent company of organisations, including Sai Aaina Farms Pvt Ltd (SAFPL).
Appearing before the Bench, the ED counsel alleged the petitioner had usurped the hard-earned money of poor people, who could not afford their own roof and invested in the projects shown to be under Pradhan Mantri Awas Yojana-Urban.
Justice Sindhu asserted the petitioner was arrested on April 30, 2024, and was in custody for nine months. “Except from taking cognisance, there is no other progress of the trial and the charges are yet to be considered by Special Court,” the court observed.
Justice Sidhu observed none of the 1,500 homebuyers had filed complaints against the petitioner, and the construction of 1,000 flats in Gurugram’s Sector 68 was at an advanced stage. Both the complaints filed in the matter by complainant Neeraj Chaudhary, which led to the registration of FIRs and the ECIR, were dismissed as withdrawn on February 9, 2024.
