In their complaint, some of the investors alleged that they had been cheated of their money deposited with the company
The Punjab and Haryana High Court granted bail to two defendants, including the company president, in a fraud case with buyers of shops and offices in Mohali Junction, the train station road and shopping complex in phase 6.
The GS Gill High Court acted on the plea of Gurjeet Singh Johar and Charanbir Singh Sethi. They had entered the High Court in July 2021.
The previous Akali government’s dream project, Mohali Junction was launched in 2009, with a deadline of December 2011. It was billed as the first Busopolis project – a bus terminal with a shopping mall and a hotel – in the region. . However, nine years later, only the ISBT became operational, leaving investors in retail and offices unhappy.
In their police complaint, some of the investors alleged that they had been swindled out of their money deposited with the company. The plaintiffs had reserved stores and offices in the B and C towers of the project and claimed to have paid 35% to 90% of the total cost of the commercial space. As the developer did not deliver possession even after years, the plaintiffs demanded reimbursement of the deposited money with 18% interest. But, despite repeated assurances from the company, they had received nothing.
In August 2018, the FIR was registered against six people, including Cabinet Chairman Gurjeet Singh Johar.
The judiciary granted bail considering that challan has already been introduced and that they are elderly. But they were ordered to appear in the lower court within a week.