Monty Chadha is the director of Uppal-Chadha Hi-tech Developers Private Limited.
The son of Ponty Chadha, the liquor and real estate baron who was killed in a shootout six years ago, was arrested from the Delhi airport last night in connection with a cheating case. Manpreet Singh Chadha aka Monty Chadha is accused of cheating people by making fake promises of giving flats at cheap prices.
Monty Chadha was arrested at the airport by the Economic Offences Wing (EOW) of Delhi Police while trying to escape to Thailand, Additional Commissioner of the EOW, Suvashish Chaudhary told news agency IANS.
Before his arrest, the airport's security staff and immigration officers were alerted and Look Out Circular (LOC) was issued against Mr Chadha.
He is the director of Uppal-Chadha Hi-tech Developers Private Limited. Delhi Police had registered a case against Monty Chadha in connection with another case including other promoters of Wave Group, the officer said, adding that it was stated in the complaint that the group duped buyers of over Rs 100 crore and made wrongful gains to the company on the name of promising a Hi-Tech township project in Ghaziabad near Delhi.
Mr Chadha will be produced before a local court today.
Ponty Chadha and his younger brother, who were allegedly involved in a property dispute, were killed in a shootout at a farmhouse in south Delhi on November 17, 2012.
Monty Chadha had joined his father in the business when he was 19 and was leading the operations and launches of the family-run Wave group's retail and entertainment businesses - Centrestage Mall, Westend Mall, Wave Cinemas and Wave Infratech, comprising commercial & residential real estate.
(With inputs from IANS)