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9. The above position of law shall be applied to decide the fate of the revisionists in this case. The said endeavor requires this Court to narrate the facts of the case so as to have a better understanding of the allegations the accused is facing.

FACTUAL BACKGROUND

10. In brief, the allegations are that in the month of October / November 2007, revisionist Sanjeev Srivastava, Director in Assotech Ridge Greens Realty Pvt. Ltd. (company shall be referred to as ARG hereinafter), approached the complainants and made a representation to the effect that ARG has aggregated around 100 acres of land in Faridabad and was in the process of launching a residential project on the said land. Revisionist Sanjeev Srivastav offered plots from the said project to the complainants at a discounted price (pre-launch price) and further represented to the complainants that the prices of the plots shall increase exponentially after the launch of project. It was represented further that possession of plots would be offered by June 2011. Revisionist Sanjeev Srivastav further offered a buy-back option to the complainants, exercisable after one year, in case of payment of entire sale consideration (by the complainants). At that time, it was further represented to the complainants that post dated cheques of the buy back amount would also be issued (to the complainants) at the time of booking of plots. Acting on the said representations, by March 2011, complainants collectively paid a sum of Rs. 1.30 crores against allotment of 11 plots of different sizes vide cheques. Complainants Cr Rev 194/2025 Sanjeev Srivastava Vs. State Page no....15 of 26 Cr. Rev 165/2025 Achla Nand Sharma Vs. State also paid an additional sum of Rs.80 lakhs to ARG against the said 11 plots. Complainants then asked ARG to execute agreements in respect of said transactions, but revisionist Sanjeev Srivastav delayed the same till February 2013. On 22.02.2013, ARG, acting through revisionist Sanjeev Srivastav, executed individual agreements in favour of all the complainants. Vide the said agreements, parties acknowledged the above said transactions in respect of allotment of said 11 plots falling within Sectors-88 and 89, Faridabad. The agreements also reflect a clause for buy back, which ensured the return of a specific sum mentioned therein in case of certain uneventuality. Cheques for the said buy back sums were also issued in favour of the complainants at that very juncture. Possession of plots was to be offered to the complainants within a period of 18 months from the execution of said agreements.