The Enforcement Directorate (ED) has conducted searches on Shivalik Group, a real estate developer, in Mumbai in connection with the Unitech developers case, sources in the agency that investigates economic offences said.
A team of the Enforcement Directorate from Delhi searched more than a dozen places on March 4, sources said.
Unitech's Managing Director Sanjay Chandra was arrested in August 2017 for allegedly siphoning off home buyers' money. He later granted bail and on December 30, the Delhi High Court extended Chandra's interim bail by 45 days on medical grounds.
The Ministry of Corporate Affairs (MCA) has appointed a new board to work on a resolution plan, where Niranjan Hirandani is the chairman.
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