The Enforcement Directorate (ED) on Monday arrested Unitech founder Ramesh Chandra, his daughter-in-law Preeti Chandra and real estate promoter Rajesh Malik in connection with a money laundering case.
Lookout circular was issued against her Preeti Chandra, the wife of Sanjay Chandra, Unitech promoter and son of Ramesh Chandra. Sanjay Chandra himself is behind bars on charges of money laundering.
Preeti Chandra has got the citizenship of Dominica and it is alleged that she was stashing money outside India.
All three were arrested following their interrogation at the agency headquarters on Monday. They will be produced in a court on Tuesday, and the ED is expected to seek their custodial remand.
In the same case on Saturday, the agency had provisionally attached 29 land parcels measuring 13,600 sq mt having a book value of Rs 30.29 crore in Sector 96-98, Noida
The case pertains to the investigation against Unitech Group under the Prevention of Money Laundering Act (PMLA).
These land parcels were illegally allotted to Carnoustie Management (India) Pvt Ltd (CMPL) by the Chandras of Unitech Group.
The source of funds for the said purchase was homebuyer's funds earlier transferred to CMPL by the Chandras.
ED initiated money laundering investigation on the basis of various FIRs registered by the Delhi Police and the CBI, based on complaints by homebuyers against Unitech Group, its promoters and others.
"Investigation by ED revealed that Unitech Group had diverted the proceeds of crime to the tune of Rs 347.95 crore to Carnoustie Group and in turn, the entities of Carnoustie Group purchased several immovable properties in India and abroad from these proceeds of crime. The total proceeds of crime detected by the ED in this case is Rs 7,638.43 crore," the agency stated.
Earlier, ED had carried out search operations at 41 locations in NCR and Mumbai, including the premises of Shivalik Group, Trikar Group, Unitech Group and Carnoustie Group.
After analysis of seized records followed by the disclosures of various persons, the above diversion and layering of proceeds of crime was unearthed. With this attachment, the total attachment in this case has reached to Rs 672.52 crore.
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