A court here has pulled up Delhi Police for its lackadaisical approach in conducting investigation, and termed as "eyewash" the report filed in a case of misappropriation of funds by real estate company Unitech Ltd.
Additional Chief Metropolitan Magistrate Gaurav Rao asked the deputy commissioner of police to appear before him on October 14 and directed the investigating officer to file a detailed report on the probe, which should be forwarded by the office of the police commissioner along with his remarks.
The order was delivered last week but was released to the media on Wednesday.
The court was hearing a case of cheating and misappropriation of funds by the company and other accused, where it was alleged that Unitech Ltd. launched a housing complex project in Gurgaon's Sector 70.
As per the agreement entered between the parties in 2011, the project was to be completed by 2014 and the possession handed over to the buyers.
It was submitted by the investors that the accused collected sums of around Rs.500 crore from the investors/complainants as well as banks and not even a single penny of the amount so collected was utilised towards the fulfillment of the contractual obligation.
Instead, the amount was misappropriated for some other purposes, they said.
The court was not satisfied with the police probe.
"This is yet another case wherein the builder lobby has taken hundreds of innocent investors for a ride," the court said.
"I am not satisfied with the investigation conducted by the investigating officer. The report is nothing but an eyewash," the judge said.
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.