Supreme Court stays criminal case against MDs of IREO, Oberoi Realty

The Supreme Court recently halted criminal proceedings against Ireo and Oberoi Realty's Managing Directors, Lalit Goyal and Vikas Oberoi, concerning allegations of cheating, criminal breach of trust, and forgery. \r

A Vacation Bench comprising Justices PV Sanjay Kumar and Augustine George Masih stayed further actions pending a response from the Haryana government. The Court emphasized the need to scrutinize whether the subsequent complaint constituted an abuse of process and if the complainant acted in good faith. \r

This follows appeals by Ireo and Oberoi against a Punjab and Haryana High Court decision upholding an FIR based on accusations of defrauding housing project allottees in Gurugram of approximately ₹1,777 crores.