Delhi court issues bailable warrant against Sahara India chief

Subrata Roy, chairman, Sahara India GroupA Delhi court yesterday issued a bailable warrant against Subrata Roy, chairman of Sahara India Group, in a case of alleged cheating and forgery in a housing project launched by his company. Roy and five other officials of the group have been alleged to have duped investors of Rs25,000 crore by promising flats, according to a complaint filed by one Neeraj Pandey.

The Delhi Police and has been directed by chief metropolitan magistrate Vinod Yadav to execute the warrant against Roy and four other company officials by 9February.

The warrant has been issued on Pandey's complaint who has alleged that the company has not started the housing project despite getting a payment of Rs1 lakh in year 2003 from each investor.

Pandey has alleged that the company launched the scheme to develop 217 townships all over the country including the NCR region.

"It is apparent that till date no allotment has been made to the complainant. It is also apparent that even the site of the township has not been disclosed to him giving rise to the presumption that despite collecting money from the proposed allottee the township has not been established," the court said.

According to Pandey, who filed the complaint through advocate Ashutosh Bhardwaj, the company had collected Rs1lakh each from 25,000 people from NCR region but the project has not been started till date.