Delhi court to hear Monty Chadha's second bail plea on June 17

New Delhi: A Delhi Court on Saturday deferred hearing in the bail plea filed by Wave Group chairman Manpreet Singh (Monty) Chadha in connection with a cheating case against him.

Additional Sessions Judge (ASJ) Gaurav Rao adjourned the matter for hearing on June 17 after Chadha's leading senior counsel failed to appear before it citing personal reasons.

Senior advocate Vivek Tankha is likely to appear for Chadha on the next date of hearing.

Earlier on Thursday, Metropolitan Magistrate Paras Dala rejected Chadha's bail plea and sent him to 14-days judicial custody.

Monty Chadha, vice-chairman of the Wave group and director of Uppal-Chadha Hi-tech Developers Private Limited was arrested by the Economic Offences Wing while he was flying from India to Phuket via Singapore.

Chadha, son of late liquor baron Ponty Chadha, was arrested for allegedly cheating investors to the tune of over Rs 100 crore.

The FIR has alleged that the company had defrauded investors of more than Rs 100 crore.

According to the police, a Lookout Circular (LOC) was issued against him earlier this year in connection with the case.