Boutique not handed over after 12 years, court denies anticipatory bail to realtor

Noida: An additional sessions court on Tuesday rejected the second anticipatory bail application of the director of Krasa International, Arwind Singh, who has been accused of cheating in a case dating back to 2014.Pronouncing his ruling, judge Sunil Kumar-I said the circumstances of the case had remained unchanged since Singh’s first anticipatory bail was cancelled on April 22 this year.Singh has been accused of receiving more than Rs 4 crore from complainants Angela and Rajesh Sahni in 2014 for booking and setting up a boutique, which he never handed over to them. He also refused to return the amount to them after the handover deadline passed.The Sahnis said they had paid Rs 35 lakh as the booking amount for a commercial space measuring 3,288 square feet in the project Centrade Business Park, for a total consideration of Rs 3.3 crore on May 22, 2014. After this transaction, a memorandum of understanding was executed between the two parties on May 31, 2014, and Singh had promised the complainants to construct a commercial shop by 2020. Angela Sahni took a loan of Rs 2.5 crore from Deutsche Bank on behalf of her company Pallavi International and paid Singh by October 2014.

Singh then told the complainants that instead of the 3,288 sq ft, they would be given a vacant plot of 4,000 sq ft for which they would have to pay an additional Rs 1.1 crore bringing the total amount to Rs 4.2 crore.For this new plot, Angela paid a total amount of Rs 4.19 crore to Singh. However, he neither returned the money to the complainants nor transferred the property, forcing them to file a case against Singh.Singh’s advocate thereafter filed an affidavit in the form of an undertaking that Singh would pay a total of Rs 6.4 crore to the plaintiffs.“Out of this, only Rs 2 crore was paid through two cheques to the plaintiffs, and another Rs 50 lakh was given, but after this, no money was handed over,” Sahnis’ counsel told the court.He further informed that the Sahnis thereafter filed a complaint in the Rera court, which accepted it and directed Singh to ensure payment of the entire deposit amount of the plaintiffs at the rate of Marginal Cost of Funds Based Lending Rate (MCLR) +1% annual interest during and until the date of payment.

The Rera court passed the said decision on Sept 2, 2025. However, Singh did not comply with this order of the Rera court as well.“As per the RERA court’s order Singh is liable to pay approximately Rs 11.35 crore including MCLR + 1% interest, which will be deducted from the Rs 2.5 crore already paid by him, leaving a total outstanding balance of approximately Rs 9 crore. Thus, the application for anticipatory bail is requested to be dismissed,” the Sahnis’ counsel said.