A Gurgaon court has directed the police to initiate the process to declare Ramesh Sanka, former chief executive of IREO Residences Co Pvt Ltd, a “proclaimed offender”.
The order was issued after an arrest warrant against him returned unexecuted. The court said it “is satisfied that the presence of the accused Ramesh Sanka cannot be secured through issuance of non-bailable warrants”.
IREO had filed a case against Sanka and two others, accusing them of extorting money from homebuyers by promising a refund of their investment in the company’s project.
The Gurgaon Police confirmed that they were in the process of executing the order.
“His anticipatory bail has already been rejected by the Gurgaon court and the Punjab and Haryana High Court … Sanka has no option but to surrender,” said one of the lawyers representing IREO in the case.
Sanka’s lawyer could not be contacted for comment.
According to the FIR, the accused people fraudulently misrepresented the records of the company to coerce its customers to execute agreements to make wrongful gains from them.
Sanka, before joining IREO, was managing director of DLF Cybercity Developers Ltd.
IREO Residences is backed by IREO Fund, which was founded in Mauritius in 2004 with the objective of developing residential, commercial and hospitality projects in India.
Legal experts said the local police will now declare Sanka a proclaimed offender and seek the help of other state police to arrest him.