A Gurugram court has summoned Ramesh Sanka, former Chief Executive Officer of Ireo Private Ltd in a defamation case. Chief Judicial Magistrate Vikrant passed the order stating summons be issued to Ramesh Sanka for April 2, 2024.

Ireo Private Ltd had filed a criminal complaint under Sections 499, 500, and 501 of the Indian Penal Code through Advocate M. K. Dang. The complainant alleged that Ramesh Sanka, who was CEO of the company from July 3, 2014 to December 28, 2016, had spread highly defamatory, baseless and false propaganda against the company in order to illegally extort money from them. 

The complaint asserted that the accused started making statements and circulating WhatsApp messages which are highly objectionable, defamatory, derogatory, harmful, abusive, insulting and libelous false stories through the internet, social media and print media. It added that Sanka had taken Rs 7,98,56,450 from the company but hasn’t returned it.  

Furthermore, it asserted that the circulated statements and messages by Ramesh Sanka are causing a huge loss, injury and defamation to the company. It mentioned that the accused is generating more and more defamatory messages and is broadcasting, circulating them on a regular basis. 

Claiming that there are sufficient materials available on record to suspect commission of offence punishable under Section 500 IPC by accused Ramesh Sanka, the complainant urged summons be issued to Ramesh Sanka to face trial under Section 500 of the Indian Penal Code. Considering the submissions, the court issued summons to Ramesh Sanka for April 2, 2024. 

Last year, Ramesh Sanka had been arrested by the Haryana Police in a case related to stealing of documents and criminal breach of trust. The Punjab and Haryana High Court had refused to grant him anticipatory bail, on the grounds of grave and serious nature of allegations, including, cheating and extorting money. The court observed that the investigation was at a nascent stage and it could not be proceeded further until or unless the petitioner were taken into custody.

A local court in Gurugram has refused to grant bail to Ramesh Sanka, former chief executive officer (CEO) of IREO Private Ltd, who was arrested in a case related to stealing of documents and criminal breach of trust.

Chief Judicial Magistrate of Gurugram Ramesh Chander recently rejected the bail petition of Sanka after observing that looking into the nature and gravity of offence, along with the severity of sentence for the alleged offence, this Court was not inclined to give the applicant/accused the concession of bail.

Taking note of the reply filed by the investigating officer, the court noted that probe in the present case qua applicant was still pending. Further, the homebuyers categorically mentioned the name of Sanka in their statement recorded under Section 161 Cr.PC by the police and specifically signed by homebuyers.

It said though the bail applications of co-accused Vivek and Sumit were allowed by the High Court, the same could not be allowed to Sanka as he did not bother to appear before the Court despite issuance of warrants of arrest. 

The CJM further noted that Sanka only appeared before the Court when his anticipatory bail application was dismissed by the Supreme Court and when the present case was fixed for securing his presence by way of proclamation.

The court also apprehended the possibility of Sanka influencing the witnesses of this case and

tampering with the evidence, in case he was granted bail.

The former CEO of IREO Private Ltd was arrested on April 21 in a case related to stealing of documents and criminal breach of trust. Sanka was sent to police custody for seven days in FIR no 199/2022 registered under Sections 389, 418, 420 and 120-B of the Indian Penal Code against Gharsamadhan LLP started by him.

Haryana Police arrested Sanka, following the directions of a Gurugram court, which had issued directions in March to declare Sanka a proclaimed offender.

On March 6, Additional Chief Judicial Magistrate (ACJM) Manoj Kumar Rana at Gurugram Court had directed the police to declare Sanka as a proclaimed offender, after noting that in view of the contents mentioned in the application and the report on non-bailable warrants of the accused, the court was satisfied that the presence of Sanka could not be secured through the issuance of non-bailable warrants.

Earlier on March 17, the Supreme Court had denied anticipatory bail to Sanka. The Bench of Justice Ajay Rastogi and Justice Bela M. Trivedi had dismissed the anticipatory bail application on the grounds that it did not find any reason to interfere with the order passed by the Punjab and Haryana High Court.

The Apex Court, however, had said that if the petitioner surrendered within two weeks and applied for regular bail, the same may be considered expeditiously on its own merits in accordance with law.

The Punjab and Haryana High Court had rejected the anticipatory bail application of Sanka on February 24. The Single-Judge Bench of Justice Sandeep Moudgil had denied anticipatory bail to Sanka and another accused in the case, Sumit Kumar, on the grounds of ‘grave and serious’ nature of allegations, including cheating and extorting money in conspiracy with each other.

IREO had filed a case against Sanka and two others on charges of extorting money from homebuyers by promising a refund of their investment in the company’s project.

The FIR registered by IREO alleged that Sanka, in connivance with other accused, fraudulently misrepresented the records of the company to coerce its customers to execute agreements to make wrongful gains from them.

(Case title: Ramesh Sanka vs The State of Haryana)

Ramesh Sanka, former chief executive officer (CEO) of IREO Private Ltd, was arrested on Friday in a case related to stealing of documents and criminal breach of trust.

Sanka was sent to police custody for seven days in FIR no 199/2022 registered under Sections 389, 418, 420 and 120-B of the Indian Penal Code against Gharsamadhan LLP started by him.

Haryana Police arrested Sanka on Friday, following the directions of a Gurugram court, which had last month issued directions to declare him a proclaimed offender.

On March 6, Additional Chief Judicial Magistrate (ACJM) Manoj Kumar Rana at Gurugram Court had directed the police to declare Sanka as proclaimed offender, after noting that in view of the contents mentioned in the application and the report on non-bailable warrants of the accused, the court was satisfied that the presence of Sanka could not be secured through the issuance of non-bailable warrants.

Earlier on March 17, the Supreme Court had denied anticipatory bail to Sanka. The Bench of Justice Ajay Rastogi and Justice Bela M. Trivedi had dismissed the anticipatory bail application on the grounds that it did not find any reason to interfere with the order passed by the Punjab and Haryana High Court.

The Apex Court, however, had said that if the petitioner surrendered within two weeks and applied for regular bail, the same may be considered expeditiously on its own merits in accordance with law.

The Punjab and Haryana High Court had rejected the anticipatory bail application of Sanka on February 24. The Single-Judge Bench of Justice Sandeep Moudgil had denied anticipatory bail to Sanka and another accused in the case, Sumit Kumar, on the grounds of ‘grave and serious’ nature of allegations, including cheating and extorting money in conspiracy with each other.

IREO had filed a case against Sanka and two others on charges of extorting money from homebuyers by promising a refund of their investment in the company’s project.

The FIR registered by IREO alleged that Sanka, in connivance with other accused, fraudulently misrepresented the records of the company to coerce its customers to execute agreements to make wrongful gains from them.

(Case title: Ramesh Sanka vs The State of Haryana)

The Supreme Court has refused to grant anticipatory bail to Ramesh Sanka, former chief executive of IREO Residences Co Pvt Ltd, in a cheating case registered under the Prevention of Money Laundering Act (PMLA).

The Bench of Justice Ajay Rastogi and Justice Bela M. Trivedi on March 17 dismissed the anticipatory bail application of Sanka on the grounds that it did not find any reason to interfere with the order passed by the Punjab and Haryana High Court.

However, the Bench noted that if the petitioner surrendered within two weeks and applied for regular bail, the same may be considered expeditiously on its own merits in accordance with law.

Senior Advocates Jayant Bhushan and Tatini Basu, along with Advocate-on-Record (AOR) Kumar Shashank and Advocates Tushar Bhusan and Amartya Bhusan, appeared for the petitioner.

The respondents were represented by Senior Advocate Siddharth Luthra, along with Advocates Nishit Agrawal, Arshdeep Khurana, Annirudh Sharma, Kanishka Mittal, Anasuya Choudhury, Tannavi Sharma and Rudraditya Khare.

Earlier on March 6, Additional Chief Judicial Magistrate (ACJM) at Gurugram court, Manoj Kumar Rana,
had summoned Sanka to appear before the court in the PMLA case.

The court further sent co-accused in the case, Vivek Sehgal, to judicial custody till April 21.

The ACJM noted that in view of the contents mentioned in the application and the report on non-bailable warrants of the accused, he was satisfied that the presence of Ramesh Sanka could not be secured through the issuance of non-bailable warrants.

The court then summoned the accused to remain present before it on April 21, after noting that the warrant of arrest issued against Sanka was returned unexecuted.

Earlier on February 24, the Punjab and Haryana High Court had refused to grant anticipatory bail to Sanka in a case related to stealing of documents and criminal breach of trust.

The Single-Judge Bench of Justice Sandeep Moudgil had denied anticipatory bail to Sanka and another accused in the case, Sumit Kumar, on the grounds of ‘grave and serious’ nature of allegations, including cheating and extorting money in conspiracy with each other.

(Case title: Ramesh Sanka vs The State of Haryana)

A local court in Haryana has summoned Ramesh Sanka, former CEO of IREO Residences Company Pvt Ltd, to appear before the court in a case registered under the Prevention of Money Laundering Act (PMLA) for embezzlement of money.  

Additional Chief Judicial Magistrate (ACJM) at Gurugram court, Manoj Kumar Rana, passed the order on March 6. The court further sent co-accused in the case, Vivek Sehgal, to judicial custody till April 21. 

The ACJM noted that in view of the contents mentioned in the application and the report on non-bailable warrants of the accused, he was satisfied that the presence of accused Ramesh Sanka could not be secured through issuance of non-bailable warrants. 

The court then summoned Sanka to remain present before it on April 21, after noting that the warrant of arrest issued against Sanka was received back unexecuted. 

Assistant Public Prosecutor Kapil Bhati appeared for Haryana, assisted by Advocate M.K. Dang, Counsel for the complainant. Accused Vivek was represented by Advocate Bhupender Pratap.

Earlier on February 24, the Punjab and Haryana High Court had refused to grant anticipatory bail to Sanka in a case related to stealing of documents and criminal breach of trust.

The Single-Judge Bench of Justice Sandeep Moudgil had denied anticipatory bail to Sanka and another accused in the case, Sumit Kumar, on the grounds of ‘grave and serious’ nature of allegations, including cheating and extorting money in conspiracy with each other. 

The High Court referred to the Supreme Court verdict of 2018 in the Rohit Tondon vs Directorate of Enforcement case, which held that economic offenders need to be treated differently as a class apart.

Justice Moudgil observed that prima facie, the case involved serious allegations of huge financial transactions, which needed to be treated differently. 

He further took note of the fact that other co-accused involved in the commissioning of offence, namely Vivek Sehgal, was in judicial custody and has not been granted regular bail so far.

As per the High Court, the investigation was at a nascent stage, which could not be proceeded further until or unless the petitioners were taken into custody. 

It further observed that delay in investigation due to non-cooperation of the petitioners would only benefit the accused alone due to its non-completion.

(Case title: State of Haryana vs Vivek Sehgal)

The Punjab and Haryana High Court has refused to grant anticipatory bail to Ramesh Sanka, former CEO of Real Estate developer IREO Residences Company Pvt Ltd, in a case related to stealing of documents and criminal breach of trust.

The Single-Judge Bench of Justice Sandeep Moudgil last week denied anticipatory bail to Sanka and another accused in the case, Sumit Kumar, on the grounds of ‘grave and serious’ nature of allegations, including cheating and extorting money in conspiracy with each other. 

The High Court referred to the Supreme Court verdict of 2018 in the Rohit Tondon vs Directorate of Enforcement case, which held that economic offenders need to be treated differently as a class apart. 

Justice Moudgil observed that prima facie, the case involved serious allegations of huge financial transactions, which needed to be treated differently. 

He further took note of the fact that other co-accused involved in the commissioning of offence, namely Vivek Sehgal, was in judicial custody and has not been granted regular bail so far. 

As per the High Court, the investigation was at a nascent stage, which could not be proceeded further until or unless the petitioners were taken into custody. 

It further observed that delay in investigation due to non-cooperation of the petitioners would only benefit the accused alone due to its non-completion.

As per the FIR, Sumit Kumar, working in connivance with Ramesh Sanka (former Chief Operating Officer of IREO Grace Realtech Limited) and another co-accused Vivek Sehgal as a partner in Ghar Samadhan LLP, alleged to be a limited liability partnership set up on January 15, 2020, had indulged in cheating and extortion, causing a great loss to the complainant.

Advocate Sukant Gupta appeared for Sumit, while Advocates Mansur Ali, Hemant Bassi, Raj Kumar Singh, Aashima Narula and Imran A. Ali represented Sanka. 

The complainant was represented by Haryana AAG Gagandeep Singh Chhina, along with Advocates Anil Mehta, Anirudh Sharma and Rahul Gautam. 

Sanka had moved the High Court against an order of the Gurugram court, which denied him anticipatory bail in January this year.

Earlier on January 2, Additional Sessions Judge of Gurugram, Ved Parkash Sirohi, had denied anticipatory bail to Sanka. The court mentioned the Supreme Court verdict of 2022 in case of Sumitha Pradeep vs Arun Kumar C.K. and Anr and held that even if custodial interrogation was not required or necessitated, by itself, cannot be the ground to grant anticipatory bail.

A local court in Haryana has denied bail to Ramesh Sanka, former CEO of Real Estate developer IREO Residences Company Pvt Ltd, in a case of stealing documents and criminal breach of trust.

The orders were passed by the court of Ved Parkash Sirohi, Additional Sessions Judge, Gurugram on Monday.  

The court mentioned the Supreme Court verdict of 2022 in case of Sumitha Pradeep vs Arun Kumar C.K. and Anr and held that even if custodial interrogation was not required or necessitated, by itself, cannot be the ground to grant anticipatory bail. 

“Keeping in view the facts and circumstances of the case, I find no ground to admit the petitioner to anticipatory bail and the application for anticipatory bail stands dismissed,” added the ASJ.

Appearing for Sanka, Advocate Vishal Gupta submitted that the petitioner was former CEO of IREO (complainant company). 

He made a number of complaints against the complainant company in different Government departments with respect to tax evasions and financial irregularities in the business and financial dealings of the complainant company with many companies, firms and individuals, who were having work place in India and abroad and on his complaint, the statutory auditors held the complainant company guilty of financial irregularities and a recovery of huge amount was made by the different departments of the Government from the complainant
company. 

The counsel for the petitioner further argued that the present FIR was the counter blast of the complaints made by the petitioner against the complainant company. Earlier also, a case was registered against the petitioner on the same facts and identical allegations, he added. 

The present case has also been registered on the same facts and the petitioner was being made a victim of double jeopardy. He further argued that the complainant company also filed a complaint under section 156 (3) Cr.PC before the Court of learned Judicial Magistrate, Delhi and its prayer for registration of the case was declined. 

On the same facts, the Gurugram police registered the present case despite the fact that the complaint on the same facts was pending before the court of Judicial Magistrate, Delhi. 

The complainant without disclosing the pendency of the earlier complaint has got the present case registered against the petitioner by way of concealment of facts.
He said no notice under Section 41-A CrPC has been served upon the petitioner and by way of concealment of facts, police in collusion with the complainant company has obtained warrant of arrest against the petitioner in violation of the directions of the Supreme Court in Arnesh Kumar versus State of Bihar in 2014 and Satender Kumar Antil versus Central Bureau of Investigation and Anr- Misc. Application No. 1849 of 2021 in Special Leave Petition (Crl) No. 5191 of 2021, decided on July 11, 2022.

The Counsel further argued that petitioner has already joined the investigation and submitted documents consisting of 440 pages to the investigating officer. He is assisting the police in the investigation of the case but despite that police is bent upon to arrest the petitioner. Except the offence under section 420 IPC, remaining offences are
of bailable nature. The maximum punishment under section 420 IPC is 7
years. Therefore, in view of the law laid down by the Apex Court in Arnesh Kumar versus State of Bihar, petitioner cannot be arrested when no recovery is to effected from his possession and he is assisting the police in the investigation of the case. Petitioner is not required by the police for custodial interrogation. Thus, he be admitted to anticipatory bail.

To the contrary, the Public Prosecutor for the State assisted by counsel MK Dang for the complainant argued that Ramesh Sanka was CEO of the complainant company and upon his resignation on 28.12.2016, he executed an Employee separation, Confidentiality, Inventions, Non-Competition and Non-Disparagement agreement dated 28.12.2016 with Ireo. But in violation of the said agreement, he has misused the client data of the complainant company and instigated home-buyers/ clients of the complainant company to file complaints/ litigations against the complainant company.

Sanka is a partner in Ghar Samadhan LLP which has managed the number of complaints from home-buyers/ clients against the complainant company and demanded Rs 10 crore from the complainant company to withdraw the said complaints. Therefore, Ramesh Sanka is required by the police for custodial interrogation and the application for anticipatory bail deserves to be dismissed.

Real estate developer IREO Residences Company Pvt Ltd has filed a first information report (FIR) at Police Station, Sector 65, Gurugram on July 21, 2022, alleging its former employee Ramesh Sanka, in connivance with Vivek Sehgal, Sumit Kumar, GharSamadhan LLP and others, have illegally extorted huge amount of money from their customers and home buyers on the pretext of getting them refund of the amounts invested by them in the housing project launched by IREO.

The FIR was lodged against the accused under Sections 384, 389, 406, 409, 417, 420 and 120B of the Indian Penal Code, besides Sections 66, 66B and 72A of the Information Technology Act, 2000.

The complaint further said that Sanka also allegedly used IREO’s confidential information to blackmail it.

As per IREO, Sanka, at the time of his resignation on  December 28, 2016, had executed an Employee Separation, Confidentiality, Inventions, Non-Competition and Non-Disparagement Agreement with the company, asking it to pay him Rs 10,37,39,409 by September 30, 2017, for not disclosing the confidential information he had access to.

The accused, in order to make wrongful gains at the cost of IREO, incorporated a Limited Liability Partnership, namely GharSamadhan LLP on January 15, 2020. The LLP was instituted only for extorting money from customers of the company, by misleading them about the actual status of their funds invested for booking plots in the company.

After the complete payment of his severance fee of Rs 10.37 crores, the accused, despite execution of the Agreement dated December 28, 2016 governing the terms of his resignation, Sanka initiated false and frivolous proceedings against various companies incorporated by IREO Fund in India, so as to extort money from them illegally. He also made illegal use of the confidential
information, including the customer data of the company, which he had access to during the course of his employment.

Using the data of the company, Sanka started contacting the company’s clients and convinced them that they should hire his services to file complaints against IREO and others. He also misrepresented to them that the money paid by them for booking plots in the project launched by IREO has been siphoned off and that only Ramesh can recover it for them.
IREO alleged in the complaint that before his severance from the IREO companies, Sanka forwarded various emails containing confidential information and documents, from his official email id to his personal email id. In furtherance of the aforesaid systematic criminal design, he colluded with the Sumit Kumar, Vivek Sehgal, Col Sanjeev Dhawan, Gurinder Singh and other unknown persons.

The accused, in order to make wrongful gains at the cost and expense of IREO, incorporated a Limited Liability Partnership, namely GharSamadhan LLP on January 15, 2020. The LLP was instituted by the accused only for the purpose of extorting money from the customers of IREO by misleading them about the actual status of the funds provided by them to the company for booking plots.

By manipulating the records of IREO, the accused portrayed to their customers that for the recovery of money paid by them to the company, litigations will be instituted on their behalf by GharSamadhan LLP. The accused LLP entered into the Authorisation Agreements with the customers, who were misled to sign such agreements.
By means of Authorisation Agreements executed between the LLP and the customers of IREO, authority was granted to the LLP to initiate/pursue legal proceedings and other remedies against the company for recovery of money paid by the customers. The LLP, vide the Agreement, was allowed to sign, verify and depose on behalf of the customers of the company. The LLP was stated to get success fee equivalent to 35 percent of the interest/penalty component recovered from IREO, pursuant to the proceedings undertaken by them on behalf of the homebuyer. 

The homebuyer was further directed to make a payment of Rs 2,36,000 to the LLP for instituting legal proceedings on behalf of the homebuyer against IREO before various forums. It was also assured that at least 2 cases will be filed on each individual customer’s behalf.

Thus, even though no specific proceedings were sought to be instituted by the customer, however, the accused compelled the Clients to institute two sets of proceedings. By means of the aforesaid, the accused furthered their systematic criminal design of extorting money from the IREO Companies.
The complaint also accused Vivek Sehgal, one of the partners in the LLP, of playing an equally important role in in disseminating false information regarding IREO companies and the projects being undertaken by them, thereby misleading the innocent customers into incorrectly believing that their money was being misappropriated. It said Vivek Sehgal was associated with one of the IREO Companies in the past, in capacity of being a channel partner in a project undertaken by IREO Waterfront Pvt. Ltd. (IREO Waterfront) in Ludhiana and he was also allotted a plot in the same project. During 2021, Vivek Sehgal started making several baseless allegations of non-completion of internal roads and electric connection. Thereafter, he sold his plot in IREO Waterfront. 

Due to the anti-company activities being undertaken by Sehgal, his channel partner agreement was terminated by IREO Waterfront. Post that, Sehgal got together with Sanka and they incorporated the said LLP with the sole purpose of causing wrongful loss of money as well as repute to various IREO Companies and their directors/ employees.

The accused, in furtherance of their mala fide motives, instigated, coerced and misled various customers of different IREO companies to initiate false and frivolous complaints against the Companies. Acting upon such instigation and coercion, various false complaints were filed by the customers of different projects of IREO Companies with the Economic Offence Wings, Gurugram, Haryana in 2020, 

The Enforcement Directorate, which is investigating money laundering charges against IREO Grace Realtech Private Limited former CEO Ramesh Sanka, is likely to frame charges against him in a Gurugram court on July 5.

The investigation is based on a complaint filed by IREO Private Ltd against Sanka for siphoning off money under the Prevention of Money Laundering Act (PMLA) and the resultant FIR No.0058/2020 dated 30/03/2020 U/s 381 & 409 of IPC registered against him.

For those not familiar with the case, here’s how the situation came to such a head: IREO came into being in 2004 in Mauritius as a multinational private fund to develop high quality residential, commercial and hospitality projects in India. IREO established several companies in India, such as IREO Pvt Ltd (IPL), IREO Grace Realtech Pvt Ltd (IGR) and IREO Residences Pvt Ltd, amongst others. These companies were established as separate and distinct entities for launching and developing commercial, residential and hospitality projects in various parts of India.

Ramesh Sanka was appointed IGR Chief Executive Officer-Greater Gurgaon on 03/07/2014 and he resigned on 28/12/2016. Though Sanka was appointed IGR CEO-Greater Gurgaon alone, he was responsible for managing operations of all projects undertaken by IREO companies in Gurgaon and Sohna area, other than hospitality commercial projects.

Sanka had access to all confidential information such as layout plans, municipal approvals, financial statements, customer records, etc. of many projects launched by the various IREO companies in Gurugram and Sohna.

When he resigned, Ramesh Sanka executed an employee separation, confidentiality, non-competition and non-disparagement agreement dated 28/12/2016 with IPL for which he was to be paid Rs 10,37,39,409 as severance fee between 31/12/2016 and 30/09/2017.

Sanka undertook to take necessary precautions to safeguard confidential IPL information, which he had access to, during his employment there and not to disclose the same to anyone until specifically instructed by the company.

He did not raise any grievance regarding the mode and manner of functioning of IREO or its other companies. Further, Sanka did not raise any issue regarding any decision taken by the companies incorporated by IREO till he got the entire severance fee, i.e., 30/09/2017. Sanka also got a refund of the amount he paid for booking two apartments in the Grand Hyatt Residences project of the Company.

Sanka, thereafter, approached IREO’s investor companies, i.e., Axon Capital, situated in New York and represented to them that their investments in IREO, which were invested into various companies established in India, were being misappropriated. He further communicated to Axon Capital that various proceedings will be initiated against several IREO companies so that the funds of Axon Capital can be recovered, for which he will charge consultation fees from Axon Capital.

Following the understanding between Ramesh Sanka and Axon Capital, Sanka filed various claims and litigations against IREO companies and is behind the investigation by various agencies, in return of monetary benefit from Axon Capital. By the aforesaid acts Ramesh Sanka, by using the information made available to him, led the foreign investors of IREO and made large sums of money for pursuing cases against the IREO Companies. He raised invoices to Axon Capital for the various actions instituted by him against the IREO Companies, including taking them to bankruptcy and pushing the Enforcement Directorate to file cases. Thus it can be seen that Sanka filed complaints/proceedings against companies incorporated by IREO to make personal monetary benefit.

Ramesh Sanka made use of the confidential information of the company, i.e., customer data of the company, which he had access to during the course of his employment with IPL, IGR and the company. Sanka started contacting its clients and convinced them that they should hire his services to file complaints against the company and others.

Sanka represented and indemnified TCI and Axon the documents and information so provided by him is not confidential. He was paid fees amounting to US$ 1,000 per hour with minimum of 500 hours resulting in a minimum fee of US$ 5,00,000 and was paid US$ 850 per hour with minimum fee of approximately Rs 12 crore for the stage 2 consulting services during which he misled both TCI & Axon. As per the aforementioned agreement, the legal expenses incurred by Sanka would be re-imbursed by TCI and Axon.

Sanka also incorporated a Limited Liability Partnership, namely, Ghar Samadhan LLP on 15/01/2020 with other two partners Vivek Sehgal and Sumit Kumar, who were associated with IREO Water Front (P) Ltd in order to institute legal proceedings against the company by entering into authorization agreement for recovery of money paid by customers to the company.

The LLP was stated to get success fee equivalent to 35% of the interest/penalty component recovered from the company in violation of various aspects of law, pursuant to the proceedings undertaken by them on behalf of the homebuyer. The homebuyer was further directed to make a payment of Rs 2,36,000 only to the LLP for instituting legal proceedings on behalf of the homebuyer against the company in various forums. The homebuyers have further confirmed that Sanka is in control of the WhatsApp groups created by the LLP, with which they had executed Authorisation Agreements and has been readily issuing instructions to the homebuyers to execute/sign documents in favour of the LLP.

If it is found that the complaint(s) and cases filed by Sanka are false and were filed with vested interest, then it will be an irreparable loss to not only IREO but all the stakeholders i.e, employees, vendors, investors, management, government and the homebuyers. Some homebuyers even suggested that the legislature should implement the 227th Law Commission Report on “Malicious Prosecution” against him.

Speaking on the issue, IREO counsel Gagan Gandhi refused comment since the case was sub-judice.