ED attaches dozen properties worth Rs 150 crore belonging to Unitech promoters in money laundering case
The investigating agency has attached 12 land pieces worth Rs 152.48 crore having a total area of 48.56 acres situated in Gurgaon, Haryana owned by the Chandra family of Unitech Group through proxy/benami entities companies.
Managing Director of Telenor's India partner Unitech, Sanjay Chandra (C) leaves a court in New Delhi April 13, 2011. An Indian court on Wednesday put on trial the first set of officials and businessmen indicted in the country's biggest corruption case, a multi-billion dollar telecoms scandal that has weakened the government and put off some foreign investors. (REUTERS)
The Enforcement Directorate has attached a dozen properties worth over Rs 150 crore belonging to embattled real estate firm Unitech Group.
The investigating agency said that it has attached 12 land pieces worth Rs 152.48 crore having a total area of 48.56 acres situated in Gurgaon, Haryana owned by the Chandra family of Unitech Group through proxy/benami entities.
These are owned by promoters of Unitech Group through proxy or benami entities such as Crown Infra Projects Pvt Ltd, Kore Communities India Pvt Ltd and Joshu Gurgaon SEZ Pvt Ltd. The three companies are part of one Trikar Group/Kore Group which is a benami investment of the Chandra family of Unitech Group, the ED said.
The criminal case against Unitech Group and its promoters, that has been filed under the Prevention of Money Laundering Act (PMLA), concerns allegations that the promoters Sanjay Chandra and Ajay Chandra had illegally diverted over Rs 2,000 crore to Cyprus and Cayman Island.
The agency had raided more than 30 premises in Delhi-NCR and Mumbai recently as part of its probe into the case.
The Economic Offences Wing of the Delhi Police had arrested Sanjay Chandra and his brother Ajay Chandra in March 2017 for not having completed a housing project on time in Gurgaon's Sector 70. The real estate firm is being investigated by the ED on charges of money laundering and for allegedly siphoning off funds by its promoters.
On March 19, 2021, the Supreme Court had pulled up Delhi High Court and a Chief Metropolitan Magistrate for entertaining the bail application of Ajay and Sanjay Chandra, when the apex court had categorically denied them bail in August last year.