Delhi Court Upholds Travel Ban on ATS Infrastructure’s Geetamber and Poonam Anand
The Patiala House Court in Delhi has decided not to cancel the look-out circular (LoC) against Geetamber Anand and his wife Poonam Anand, promoters of ATS Infrastructure Ltd. This decision is linked to FIRs filed by the Economic Offence Wing (EOW) of Delhi Police, following complaints from homebuyers about being defrauded in the company’s projects.
Judicial Decision
Judicial Magistrate Yashdeep Chahal dismissed the Anands’ request to cancel the LoC, stating that it serves as a safeguard to ensure the judicial process is not hindered. Although the Anands have cooperated with the investigation, the court emphasized the importance of the LoC in preventing them from traveling abroad without permission.
Allegations and Legal Proceedings
Advocate Sanjay Abbot, representing the homebuyers, argued that the Anands entered a fraudulent agreement, taking Rs.113 Crores from the complainants and violating the agreement’s terms. The Anands are also accused of ignoring directions from a Sole Arbitrator in arbitration proceedings and are facing personal insolvency proceedings before the NCLT, New Delhi.
Multiple FIRs and Serious Allegations
The court noted that the LoC was issued in 2023 after new FIRs were registered, indicating multiple victims. The case involves a significant amount of Rs.113 Crores, and serious allegations of creating false evidence and concealment have been made against the Anands.
Conclusion
The court concluded that the Anands are a flight risk, especially after the initiation of personal insolvency proceedings. The LoC remains in place to ensure the ongoing investigations and related cases are not compromised.
Doubts Revealed
Delhi Court -: A Delhi Court is a place where legal cases are heard and decided in Delhi, the capital city of India.
Travel Ban -: A travel ban is a restriction that prevents someone from leaving a country or traveling to certain places.
ATS Infrastructure -: ATS Infrastructure is a company in India that builds homes and other buildings.
Geetamber and Poonam Anand -: Geetamber and Poonam Anand are people who are in charge of ATS Infrastructure.
Fraud Allegations -: Fraud allegations mean that someone is accused of cheating or lying to get money or something valuable.
Patiala House Court -: Patiala House Court is a specific court in Delhi where certain legal cases are handled.
Look-out Circular (LoC) -: A Look-out Circular is a notice used by authorities to prevent someone from leaving the country, often used in legal cases.
Economic Offence Wing -: The Economic Offence Wing is a special police department in India that investigates financial crimes like fraud.
FIR -: FIR stands for First Information Report, which is a document prepared by the police when they receive information about a crime.
Judicial Magistrate -: A Judicial Magistrate is a judge who handles certain types of legal cases in a court.
Advocate -: An advocate is a lawyer who represents people in court and gives legal advice.
Rs.113 Crores -: Rs.113 Crores is a large amount of money in Indian currency, where one crore equals ten million rupees.
Personal Insolvency Proceedings -: Personal insolvency proceedings are legal processes where a person who cannot pay their debts seeks help from the court to manage or clear their debts.