The Economic Offences Wing of the Delhi Police arrested late liquor baron Ponty Chadha’s son Manpreet Singh Chadha alias Monty Chadha at the Indira Gandhi International Airport on Wednesday night in connection with a cheating case, reported IANS.
Chadha, who is the vice chairperson of the Wave group and director of Uppal-Chadha Hi-tech Developers Private Limited, was taken into custody when he was reportedly leaving for Phuket, Thailand.
Chadha is accused of cheating several flat buyers, and has been charged under several sections related to cheating, criminal breach of trust and criminal conspiracy of the Indian Penal Code. He will be produced at a local court on Thursday.
Additional Commissioner of Police (EOW) Suvashish Chaudhary said a look-out circular was issued against Chadha a few months ago after a cheating case was registered against him and the Wave group in January 2018, reported The Hindu. It said that the developers have been “playing with the investor’s hard earned money” since 2006. The group had failed to deliver township projects near National Highway 24 in Ghaziabad.
In 2012, Ponty Chadha and his younger brother were killed in a shootout at a farmhouse in Delhi over an alleged property dispute. Monty Chadha has been managing the family’s liquor and real estate business since his father’s death.