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Wave Group Vice Chairman Monty Chadha arrested at Delhi airport

Manpreet Singh Chadha aka Monty Chadha was arrested by the officials of the Economic Offences Wing of the Delhi Police when he was leaving for Phuket in Thailand.

twitter-logo BusinessToday.In   New Delhi     Last Updated: June 13, 2019  | 12:48 IST
Wave Group Vice Chairman Monty Chadha arrested at Delhi airport
Liquor baron Ponty Chadha with son Monty Chadha

Son of slain liquor baron Ponty Chadha, Monty Chadha, has been arrested from the Delhi airport in connection with a cheating case. Monty Chadha was arrested last night.

Manpreet Singh Chadha aka Monty Chadha was arrested by the officials of the Economic Offences Wing of the Delhi Police when he was leaving for Phuket in Thailand.

The Director of Uppal-Chadha Hi-tech Developers Private Limited and Vice Chairman of Wave Group is accused of cheating people of around Rs 100 crore by making fake promises of giving flats at cheaper prices.

The Delhi Police had registered cases of cheating against Monty Chadha and several other family members and employees in 2018. Additional Commissioner of Police (EOW) Suvashish Chaudhary said that Chadha would be produced before a magistrate on Thursday.

A Look Out Circular (LOC) was issued against him and other promoters of the Wave Group for cheating in 2018.

His father Ponty Chadha and his uncle were killed in a shootout at a farmhouse in 2012. The shootout took place in South Delhi over an alleged property dispute. Following this, Monty Chadha has been managing the business.

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