economy

Directors of ABW Infrastructure declared absconders

Directors of ABW Infrastructure declared absconders

NEW DELHI: Saket district court on Thursday declared

Atul Bansal

, Sonal Bansal and Ravi Shankar, promoters of

ABW Infrastructure

as absconders.

The decision was taken based on several FIRs registered by Economic Offence Wing (EoW) against the directors and managing director of the company.

Bail plea filed by the company’s director in Delhi high court has been adjourned. One of the company officials Vijay Kumar Grover has already been arrested in relation to one of the FIRs.

In one of the FIRs, buyers of company’s project-Business Bay in Sector 83 Gurugram through their counsel Amit Chauhan had said that ABW failed to give possession of the project launched in 2007. Possession of the project was offered in 2010.

Separately, a FIR was filed by the ABW Verona Hills Flat buyers Association April 2018 through their counsels Ashwarya Sinha and Priyanka Sinha for delaying the residential project “Verona Hills” situated in Sector 76, Gurugram for over two years.

The project Verona Hills was launched by ABW in 2011.

In their complaint home buyers had stated that the builder has not taken environment clearance and NOC for the project and has illegally siphoned off the money that they have submitted till date.

Another advocate, Pankaj Tanwar also represents several investors who had invested in company’s project in Gurugram and Mohali. They had also filed an FIR in 2016.

“All those FIRs have now been merged,” said Chauhan.

ABW Infrastructure is not new to controversy. The company is also involved in multi-crore Manesar land scam where it is alleged that the company bought land parcel from farmers at a lower price. ABW’s Aditya Niketan project in which nearly 2,000 people have booked housing units is involved in the scam.

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