GURUGRAM: A sessions court has denied anticipatory bail to the former CEO of Ocean Seven Buildtech Pvt Ltd (OSBPL) in a case involving allegations of cheating and forgery.
This ruling arrives 12 years after a family was reportedly “induced” to invest ₹2.8 crore with promises of “high returns.” According to complainant Amit Rastogi, that amount with interest grew to ₹5.7 crore over time.
The court, presided by sessions judge Vani Gopal Sharma, issued the order on Monday after extensive hearings where the complainant, the state prosecutor, and the buyers’ association objected to bail for former OSB CEO Sanjeev Kumar related to the ₹5.7-crore case tied to the company’s Expressway Towers project in Sector 109.
Kumar, seeking relief under Section 482 of BNS, claimed he was wrongfully implicated and had resigned from OSBPL in April 2024. He contended that his arrest would not serve any beneficial purpose, as he was willing to cooperate with the investigation.
During the hearings, the public prosecutor informed the court that Kumar was an authorized signatory of the company and had signed key settlement documents. The case originated from a complaint filed by Rastogi on May 14, 2025, alleging that OSBPL’s promoters and senior executives, including Kumar, had persuaded his family to invest ₹2.87 crore in 2013.
Despite repeated assurances, the company allegedly failed to fulfill its commitments.
In May 2022, OSBPL attempted to resolve issues by allotting seven flats in its Expressway Towers project as part of a settlement. However, Rastogi later found that many of these flats had already been sold to others, allegedly using forged documents.
When Rastogi confronted the company, he claimed he was threatened. A police investigation subsequently revealed that those flats had previously been allotted through official lottery draws.
The prosecutor pointed out that at least two additional criminal cases against Kumar are pending in Gurgaon, and custodial interrogation is essential to uncover a larger fraud affecting numerous homebuyers.
Although Kumar’s lawyer cited a partial settlement of ₹50 lakh with Rastogi, the court noted that similar frauds had been inflicted upon other investors, and granting anticipatory bail could hinder the ongoing investigation.
“Encouraging settlements with individual complainants to evade broader accountability isn’t advisable,” the judge stated while rejecting the plea.
This case adds to the increasing instances of real estate fraud in Gurgaon, where buyers have accused developers of deception through forged allotments, project delays, and false promises.
