The Enforcement Directorate (ED) on Monday, 4 October, arrested Unitech founder Ramesh Chandra and his daughter-in-law, Preeti Chandra, in connection with an ongoing money laundering case against the real estate company.
Rajesh Malik, an executive of Carnoustie Management (India) Pvt, has also been arrested in connection with the case, news agency PTI reported.
Booked under the Prevention of Money Laundering Act (PMLA), all three accused will be presented before a court on Tuesday. Financial investigation agency ED will seek their custody in the court.
Sanjay Chandra and Ajay Chandra, sons of Ram Chandra and promoters of Unitech, are presently lodged in the Taloja jail in Mumbai. The ED had filed a criminal case against the two owners earlier this year.
What Is the Case?
One complaint filed in 2015, which was later followed by complaints of 173 others by homebuyers of Unitech projects – 'Wild Flower Country' and 'Anthea Project' – in Gurugram, led to a criminal case against Unitech Ltd.
Sanjay Chandra and Ajay Chandra have been accused of allegedly siphoning homebuyers' money.
A forensic audit conducted in 2018 had submitted that Unitech Ltd received around Rs 14,270 crore from 29,800 home buyers from 2006-2014 and around Rs 1,805 crore from six financial institutions for the construction of 74 projects, PTI had reported.
Earlier this year, the ED had filed a criminal case against the Unitech group, alleging that Sanjay and Ajayl had illegally diverted over Rs 2,000 crore to Cyprus and the Cayman Islands.
The central agency has indicated that the total proceeds from criminal activities detected in this case stand at Rs 7,638.43 crore, as per a PTI report.
(With inputs from PTI)
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