The economic offences wing of the Delhi police on 12th June arrested Manpreet Singh Chadha alias Monty Chadha, son of slain liquor baron and exhibitor-distributor Ponty Chadha. He was arrested from the IGI airport before his flight to Phuket via Singapore departed. Monty is the vice chairman of the Wave group. The arrest was made in a case of real estate fraud. Monty is accused of not giving possession of properties booked by buyers in housing projects in Ghaziabad. Five others have been similarly accused in the case filed by K. Ramesh, Kaveri Ramesh and others against Uppal Chadha Hi-Tech Developers Pvt. Ltd., Delhi.
Monty Chadha was produced before the court and sent to Tihar jail in judicial custody. His bail plea was rejected. He is expected to move another bail application. The Wave group said that six complainants against Monty had agreed not to oppose his bail plea if the company made their payments alongwith full interest.
The arrest came in the wake of an FIR lodged in January last year. Monty is accused in another case of cheating and criminal conspiracy lodged by the EOW in February 2018 relating to the same project.