Director of real estate firm sent to jail

A woman director of a real
estate firm, arrested for allegedly duping over 300 investors of several crore rupees after promising them flats at affordable rates, was sent to Tihar Jail today under judicial custody.

Metropolitan Magistrate Meenu Kaushik remanded AJS Builders Limited director, Madhu Singh, arrested on June 7, to
judicial custody till July 4 after she was produced before the court on expiry of her police custody.

Madhu was arrested here on June 7 by the economic offence wing of Delhi police for allegedly collecting over Rs 700 crore from 1,500 investors in three projects promising them flats in a time-bound manner.

The prosecution had earlier told the court she was not
co-operating in the probe and that they have seized 16 bank accounts in connection with the case.

Madhu and her sister-in-law Geeta Singh, who is also one of the directors in the company, were declared proclaimed offenders by a court here on October 16, 2010, for evading the
judicial proceedings. (MORE) PTI ABA RAX
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