Monty Chadha: A businessmen earlier, now an aspirant fugitive

Monty Chadha(the vice-chairmen of Wave and the son of liquor Barron-Ponty Chadha) was arrested on Wednesday at Indira Gandhi International Airport, in the night time, when he was leaving for Phuket, Thailand. Economic Offence Wing of Delhi Police has booked him in January 2018, as he deceived the investors connected to the amount of 100 crores, associated with the real estate project in NH24. Before the arrest of Monty Chadha, LOC(Look Out Circular), was issued against Monty Chaddha. The director of Uppal-Chadha Hi-tech Developers Private Limited has made false promises regarding high-tech ownership in Ghaziabad and had deceived the sum of rupees 100 crores from the innocent investors in his false project, in an obstructive way.

According to the lawyers of Monty Chaddha, 28 complaints have been offered settlement through demand draft and, for the interest amount, agreements have been signed. However, the settlement offer came after Monty was arrested. The police said that thousands of people have suffered in the case and they also need to search his house to gather evidence. According to EOW, in 2005 the agents and brokers of Uppal Chadha Hi-Tech Developers Pvt Ltd started to reach the public for booking their plots connected to Hi-Tech Township Projects namely “Rosewood Enclave, Sunny Wood Enclave, Lime Wood Enclave & Crestwood Enclave” situated in villages of Kachera, Dujana and Mehrauli at NH-24, Ghaziabad, UP.

The FIR justifies that the company attracted them by showing broachers and layout plan for the proposed township of about 1500 acres. 29 Victims have paid the amount of 4.5 crores respectively. The police said that the company started taking bookings for plots from the victims with an initial booking amount of Rs 3 to 5 lacs from 2005 and 2006, respectively whereas the site plan was sanctioned only on November 2, 2013.

In this insightful world, where the rich think that he is strongly associated with the monopoly of power and money, drowns down to the gutter of “imprisonment” if he uses his powers in a bleak way. The sources of NLC(News Leak Centre) entangled closely with the Tihar Jail, had revealed that Monty Chaddha is in a complete melancholic state and in the zone of depression, since the day he was being arrested. Also, it has been revealed that Monty Chadha, has been found crying in jail, as he has been devoid of each and every, comfort and pre-existing luxury of his life. Played well with the sentiments and hard work of the people, Monty Chadha will remain in the jail, till the time high court grants him bail.

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