MOHALI: The C&C Mohali Junction Clients’ Association has sought a CBI inquiry into the alleged investment scam of Rs 490 crore at Baba Banda Singh Bahadur Inter State Bus Terminus (ISBT) in Mohali. The clients’ association has filed a petition in the Punjab and Haryana high court, alleging shoddy investigations by the police in the case of cheating by the C&C Company. The HC has issued a notice of motion to the police and adjourned the case for July 26.
Harbhajan Singh Jolly, president of the association, said the petitioners have submitted that they, along with about 400 innocent buyers, had invested in the project for purchase of retail shops and commercial spaces and about Rs 490 crore were collected by M/s C&C Towers Limited, which was a subsidiary of M/s C&C Constructions Limited.
Though the construction was to be completed by 2011, said Harbhajan, it did not start and the petitioners and other investors were left in the lurch after having invested huge amounts. He said directors and other office-bearers of M/s C&C Constructions Limited and the special purpose company (SPC) created by it defrauded the investors of about Rs 490 crore.
Harbhajan said, “We have submitted that though several FIRs were registered against the companies and its directors, the police have not conducted a fair investigation and have virtually given them a clean chit. As per the inquiry report, directors of the parent defaulting company, namely Amritpal Singh Chadha and Rajbir Singh, have no concern with the SPC of M/s C&C Towers Limited. Even Col CVS Sehgal, chief general manager of the company, was declared innocent in the inquiry report.”
The petitioners have submitted that even Gurjeet Singh Johar, chairman of the defaulting company, and Charanvir Singh Sethi, whose anticipatory bail applications had been dismissed, were given undue favours by the police. Despite dismissal of their bail applications, they were released on personal bonds, it was alleged.
The counsel for the association said a biased investigation was conducted and the real culprits were not being taken to task and in such circumstances, the probe should be handed over to some independent agency like the CBI.
In December 2019, the Mohali police had arrested from Delhi Sanjay Gupta, one of the directors of C&C Company that was to construct, maintain and operate Baba Banda Singh Bahadur Inter State Bus Terminus in Mohali. Police had issued a lookout circular against the chairman and directors of the C&C Company in February 2019.
State-of-the-art air-conditioned Baba Banda Singh Bahadur ISBT in Mohali, an ambitious project of the former SAD government and deputy chief minister Sukhbir Singh Badal, was inaugurated in 2016 after which it ran into rough weather. C&C Company abandoned construction, maintenance and operations, after which the investors lodged a complaint with the police. FIRs were registered against the chairman and directors at Phase-I police station under sections 406, 420 and 120-B of the Indian Penal Code (IPC) in August 2018. Another FIR was filed in January 2019.
The PSPCL had, in December 2017, snapped the power supply to the terminus as the company had failed to pay the pending bills of Rs 2.4 lakh.
HC had quashed directors’ petition
The chairman and directors of the Baba Banda Singh Bahadur Interstate Terminus in Mohali were penalised Rs 2 lakh for delay in handing over possession of commercial complexes to the investors. The high court, while quashing the petition filed by the chairman and directors for relief, had directed them to deposit the penalty with PGI’s poor patients’ welfare fund in January 2021. The chairman and directors had approached the HC for quashing of the State Consumer Disputes’ Redressal Commission orders to penalise the company. They had taken the plea that the company was already under a corporate insolvency resolution process. Upholding the judgement of the commission, the HC had ordered them to deposit the penalty.
Gmada’s Rs 89cr claim
The National Company Law Tribunal’s special bench, Chandigarh, had last year initiated the corporate insolvency resolution process of C&C Towers Ltd, which has to date failed to pay the default money. Greater Mohali Area Development Authority (Gmada) has also sought a claim of Rs 89 crore from the company.