They were already in jail in connection with other alleged cheating cases.
The duo was arrested on August 16 following which the court sent them to the custody of the Serious Fraud Investigation Office (SFIO) for two days where they were questioned on the alleged fraudulent transactions.
During the hearing, SFIO told the court that Sushant and Nishant abused their position in the real estate company to deceive the homebuyers and investors and caused undue advantage to themselves.
The corporate fraud investigating agency further apprised the court that the investigation till date revealed that fraud of more than Rs 50 crores has been perpetrated by them in connivance with each other.
The judge, while sending them to two days SFIO custody on August 16, had noted that the offence allegedly committed by them is of a “serious nature.”
They are also accused in other cases related to cheating investors of crores of rupees by not delivering possession of flats and properties in Delhi-NCR.
They cheated 893 victims of over Rs 126 crore through out the country by not handing over the possession of the units to them or paying the assured returns, Additional Sessions Judge Kamini Lau had said while rejecting their bail on August 2.