The Enforcement Directorate (ED) has attached movable and immovable assets worth Rs 257 crore based in Gurugram, Goa, Chennai and other places in connection with the money laundering case against Unitech Limited.
With this, the total value of various domestic and overseas assets attached in the case so far is Rs 1059.52 crore, which includes the assets of Carnostie Group, Shivalik Group, Trikar Group, CIG Realty Fund, Authentic Group, and the assets of shell and personal companies of Sanjay Chandra and Ajay Chandra – ex-promoters of the Unitech Group.
A senior ED official said that the attached properties include residential, commercial units, land parcels, demand drafts, equity shares and bank account balance.
The properties are owned by CIG (Chandra Investment Group) Realty Fund and Authentic Group.
“For purchasing these properties, homebuyer’s funds of Rs 244 crore were illegally diverted by Chandras to CIG Realty Fund. The diverted funds were used to purchase land. Auram Asset Management Private Limited was one of the companies controlled by the Chandra family which was used to manage the affairs of the CIG Realty Fund, “said the official.
This company was also used by Chandras to siphon-off the investors fund from the accounts of CIG Realty Fund. The misappropriated funds were used to finance the illegal activities of Chandras such as bribing certain Tihar Jail officials and for other personal expenses of Ajay Chandra and Sanjay Chandra, “he added.
The ED had registered a money laundering case against Unitech Group on June 6, 2018 following the Supreme Court order. The ED’s case was based on Delhi Police’s Economic Offens Wing’s FIR against Unitech Limited.
Total proceeds of crime as detected by the ED in the case is Rs 6,452 crore.
During the course of investigation, ED had arrested Sanjay Chandra, Ajay Chandra, Ramesh Chandra, Preeti Chandra and Rajesh Malik. All of them are currently lodged at Tihar Jail.
Further investigation in the matter is on.
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