Greater Noida’s beleaguered Grand Venezia housing project has plunged deeper into crisis, with investors filing an urgent Supreme Court plea against promoter Satendra Singh Bhasin for contempt of court. The multi-crore fraud case, simmering for years, now hinges on Bhasin’s refusal to surrender as ordered.
On April 2, the apex court revoked Bhasin’s bail, citing his non-cooperative stance, and directed him to surrender within a week. Undeterred, he requested more time, only for the court to deny it outright, pushing the final deadline to April 9.
Yet, as per the investors’ petition, Bhasin remains at large, neither presenting himself to police nor the judiciary. This blatant disregard has sparked outrage, with petitioners accusing him of exploiting every procedural delay to evade accountability.
The filing doesn’t spare the authorities either, questioning UP police’s lethargy in executing the mandate. Amid rising panic, investors fear an international flight, demanding a lookout notice alongside a non-bailable arrest warrant.
Further allegations include Bhasin’s omission of key FIR details from Delhi and UP in court submissions, suggesting a calculated cover-up. This long-drawn saga underscores the vulnerabilities in India’s realty sector, where ambitious projects often crumble under promoter malfeasance.
Investors seek swift intervention to force compliance, hoping to set a precedent that deters future scams. As hearings loom, the spotlight intensifies on whether the judiciary will clamp down decisively.
