ED links assets worth Rs 81 cr against Unitech Group in PLMA case
24 Jun 2021
2 Min Read
CW Team
In connection with a money-laundering probe against realty firm Unitech Group, the Enforcement Directorate (ED) has attached a helicopter and over 100 land parcels in Mumbai worth a total of Rs 81 crore, the agency announced on Wednesday.
Under the criminal sections of the Prevention of Money Laundering Act (PMLA), a provisional order for attachment of these properties owned by the Shivalik Group and its associates has been issued.
The helicopter, which is owned by King Rotors Air Charters Pvt Limited, and the 101 land parcels in Mumbai's Santa Cruz area are valued at Rs 81.10 crore, according to the ED.
Early this year, the Enforcement Directorate filed a criminal case against the Unitech Group and its promoters under various sections of the PMLA, alleging that the owners 鈥� Sanjay Chandra and Ajay Chandra 鈥� illegally diverted over Rs 2,000 crore to Cyprus and the Cayman Islands.
After studying some FIRs filed by the Delhi Police's Economic Offences Wing (EOW) against these promoters and the company, including one in which they allegedly failed to complete a housing project on time in Gurgaon, the ED decided to file the case.
After the case was filed, the ED raided 35 locations of the Shivalik Group, Trikar Group, Unitech Group, and Carnoustie Group in Mumbai and the national capital region on March 4.
Two similar orders were previously issued that froze assets worth Rs 349.82 crore, bringing the total attachment in this case to Rs 431 crore.
Also read: ED raids TRS Nama Nageswara Rao鈥檚 residence in Rs 1,064 cr fraud case
Also read: ED investigates Rs 2,000 cr loan from Piramal Group to Omkar
In connection with a money-laundering probe against realty firm Unitech Group, the Enforcement Directorate (ED) has attached a helicopter and over 100 land parcels in Mumbai worth a total of Rs 81 crore, the agency announced on Wednesday.
Under the criminal sections of the Prevention of Money Laundering Act (PMLA), a provisional order for attachment of these properties owned by the Shivalik Group and its associates has been issued.
The helicopter, which is owned by King Rotors Air Charters Pvt Limited, and the 101 land parcels in Mumbai's Santa Cruz area are valued at Rs 81.10 crore, according to the ED.
Early this year, the Enforcement Directorate filed a criminal case against the Unitech Group and its promoters under various sections of the PMLA, alleging that the owners 鈥� Sanjay Chandra and Ajay Chandra 鈥� illegally diverted over Rs 2,000 crore to Cyprus and the Cayman Islands.
After studying some FIRs filed by the Delhi Police's Economic Offences Wing (EOW) against these promoters and the company, including one in which they allegedly failed to complete a housing project on time in Gurgaon, the ED decided to file the case.
After the case was filed, the ED raided 35 locations of the Shivalik Group, Trikar Group, Unitech Group, and Carnoustie Group in Mumbai and the national capital region on March 4.
Two similar orders were previously issued that froze assets worth Rs 349.82 crore, bringing the total attachment in this case to Rs 431 crore.
Image Source
Also read: ED raids TRS Nama Nageswara Rao鈥檚 residence in Rs 1,064 cr fraud case
Also read: ED investigates Rs 2,000 cr loan from Piramal Group to Omkar
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