Sanjiv Kumar Jain, the CEO and managing director of Parsvnath Developers, was arrested by Delhi police when he tried to flee to Indira Gandhi International Airport.
The Delhi police officials came to Jain's Gurugram residence to arrest him over a consumer complaint case. However, he escaped them and drove to the IGI airport where they followed him, resulting in his arrest.
Following a complaint by one Rajat Babbar in 2017, there are five warrants pending against him at the Shahdara police station. These include four non-bailable cases and one bailable offence.
The latest non-bailable case was filed on July 18, 2024 by the National Consumer Disputes Redressal Commission. However, he failed to appear before the panel.
Who is Sanjeev Kumar Jain?
Jain, 54, who has been serving as the managing director of Parsvnath Developers since February 1, 2002 and was appointed CEO in March 2010. He was the Executive Director of the company since July 24, 1990.
He reportedly owns 21,600 shares of Parsvnath Developers worth Rs 3.6 lakh.
