Wed Oct 23 05:59:46 UTC 2024: Updated – October 23, 2024 11:30 am IST – NEW DELHIThe ED probe is based on cases registered by the Delhi Police and the Central Bureau of Investigation against Unitech Limited and others. File | Photo Credit: Photo Credit: X/@dir_ed
The Directorate of Enforcement (ED) has provisionally attached movable properties worth around ₹335 crore in a money-laundering probe involving Unitech Limited and others, who have been accused of illegally diverting funds to the tune of ₹7,612 crore.“Through a fresh directive, the agency has attached movable properties valued at ₹319 crore belonging to Unitech International Realty Fund and ₹16 crore of Sahana Builders Private Limited under the Prevention of Money Laundering Act,” it said on Tuesday (October 22, 2024.)
Supreme Court issues notice to former Unitech promoter Sanjay Chandra’s wife Preeti ChandraThe ED probe is based on cases registered by the Delhi Police and the Central Bureau of Investigation against Unitech Limited and others. The Supreme Court vide its order dated December 18, 2019, had warranted a proper investigation by the law enforcement machinery, both from the angle of money-laundering and other related facets.
ED investigation revealed that the group’s promoters, in collusion with their associates, played a key role in illegally diverting the funds of homebuyers, investors, and banks. “The Unitech International Realty Fund was a fund created by the Chandra family through their personal companies namely Auram Asset Management Private Limited and Uniwell Limited (Cayman Islands) to divert funds consisting of homebuyers’ money from Unitech Limited,” said the agency.
It said assets including land rights assigned in Agra, Varanasi, Mohali, and Chennai to the Indian companies of Unitech International Realty Fund have been attached. “Unitech Limited controlled by the Chandra family had diverted ₹16 crore to Sahana Builders and the same was payable back to Unitech Limited. Thus, funds in form of fixed deposits of the like amount have been attached,” an official said.SC allows ED to rely on forensic auditors’ report for charge sheet against Unitech ex-promoters
Till date, the ED has conducted 47 searches in the case and issued 19 provisional attachment orders, under which 1,288 domestic/overseas movable/immovable assets worth about ₹1,593.36 crore have been attached. The assets in question are linked to the Carnoustie Group, Shivalik Group, Trikar Group, and the shell, “benami”, and personal companies of the promoters. The agency has also filed eight status reports in the Supreme Court.Published – October 23, 2024 11:29 am IST
economic offence/ tax evasion / Delhi / New Delhi / fraud
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