A Delhi court has issued non-bailable warrants against Rahul Chamola, the Director of Nivas Promoters Pvt Ltd, in response to a case lodged against him. Chamola is accused of enticing homebuyers to invest in his project by promising flats but failing to deliver on that promise. He is also alleged to have absconded with advance payments from these buyers. Chamola purportedly used connections with cricketer Munaf Patel to lure investors with grandiose claims about his projects that ultimately went unfulfilled. Despite being granted interim bail with conditions, Chamola failed to clear dues to investors and homebuyers, leading to the issuance of non-bailable warrants. This legal action highlights the repercussions individuals in the real estate industry may face for failing to fulfil commitments to homebuyers and investors.
A Delhi court has taken a stern step by issuing non-bailable warrants against Rahul Chamola, the Director of Nivas Promoters Pvt Ltd, in response to a case lodged against him. According to the police chargesheet, Rahul Chamola is accused of enticing an unsuspecting homebuyer to invest in his project by promising flats but failing to deliver on that promise. He also stands accused of absconding with the advance payments made by these buyers.
Chamola allegedly used his purported connections with cricketer Munaf Patel to lure investors, making grandiose claims about his projects that ultimately turned out to be unfulfilled. It was further noted in court that Chamola was granted interim bail due to a settlement agreement with an investor, which he subsequently breached. As he failed to appear before the court, and his interim bail had already expired, the court decided to issue non-bailable warrants against him.
In a previous development, the Economic Offence Wing (EOW) of Delhi Police arrested Rahul Chamola for deceiving homebuyers in Noida through his projects. He was later granted interim bail by the Saket District Court, with the condition that he would clear the dues of the investors and homebuyers while on bail.
Recently, the Sessions Court of Saket District Court ordered all the directors of Nivas Promoters Pvt Ltd to appear before it to address the grievances of homebuyers who complained that Chamola had not paid the outstanding dues to investors, despite being on interim bail. He had made no effort to settle these dues.
This legal action underscores the significant consequences that individuals in positions of authority within the real estate industry may face if they fail to uphold their commitments to homebuyers and investors. Rahul Chamola's actions, which allegedly involved enticing investors with false claims and then reneging on agreements, have had serious legal repercussions. The court's decision to issue non-bailable warrants against him demonstrates the gravity of these allegations.
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