MBD owners Malhotra’s won over Syal’s in Jalandhar court over Krishna resort property dispute

MBD owners Malhotra’s won over Syal’s in Jalandhar court over Krishna resort property dispute

Jalandhar : In a major relief for the famous Krishna resort owned by MBD group,  the court of JMIC Gagandeep Singh has discharged them in a criminal case filed against against the owners on Tuesday.

A case was registered  in the  division number 4 police  station under sections 420,467,468,471,120 B of Indian Penal Code on November  , 2011 against the owners of Krishna Resorts on the complaint of Gurcharan Syal.

Hailing the decision the owners of the group said that finally the truth has prevailed. They had informed the Court that the case registered against them was all false and was a part of the property grabing attempt by Gurcharan Syal.

A dispute had arisen between the Krishna Resorts and Gurcharan Syal who was a partner in the group after the demise of Sh Ashok Malhotra.  Legal heirs had informed the court through their lawyers that after the demise of Sh Ashok Kumar Malhotra, founder of MBD group , Syals in order to grab the assets of the company namely MBD Krishna resort had got an  FIR falsely registered against the legal heirs of Sh. Ashok Kumar Malhotra in order to harass and defraud them.

Howeber after listening to the arguments of both sides and going through the evidence given by them the Court finally discharged the Owners of the MBD group absolving them of all the charges levelled against them by Gurcharan Syal.

Earlier also  CLB had decided  a case in favour of Malhotras and during execution proceedings pursuant  of the said CLB order, lot of frauds played by Syal”s were unearthed and two FIR were registered against Syals on complaint of  Malhotras. In one of the said FIR  charge sheet has already been filed against Syals and in the other the police is on their look out as Syals anticipatory bail has been rejected right upto high court .

Recently Bail application of Gurcharan Singh Syal was rejected by Session Court of Jalandhar District and even high court  last month . Upon the compliant of M/s Krishna Real Estate Enterprises Pvt. Ltd., a case under section 419, 420, 465, 467 and 468 of Indian Penal Code was registered against accused Gurcharan Singh Syal in P.S. Div. No. 3, Jalandhar on March, 2016. The said FIR was registered upon the direction of the Court as accused has committed fraud and forgery. The raids were being carried against the accused by Police who has been on run since the registration of aforesaid case against him.

It is also to be noted that another FIR under section 420, 468, 471, 406 and 34 of Indian Penal Code was also registered on December, 2014 against the accused, his father Prem Singh Syal and son Gunjeet Singh Syal at PS Civil Lines, North Delhi, Delhi for siphoning of funds, forgery etc.”

Also to mention that Gurucharan singh Syal being a CA has been found guilty of professional Mis conduct by institute of chartered accountants and Prem Singh Syal is undergoing complaints against him at the bar council.