The Enforcement Directorate (ED) at this time provisionally connected properties price Rs 18 crore belonging to jailed Unitech promoters Sanjay Chandra and Ajay Chandra. The properties embrace a multiplex in Haryana’s Gurugram and 6 different business properties in Gurugram and Lucknow in Uttar Pradesh. All of those have been linked to 2 Benami entities not directly managed by the Chandra brothers.
24 financial institution accounts and Mounted Deposit Receipt (FDR) have additionally been connected.
These belongings are within the identify of M/s Enova Facility Administration Providers Non-public Restricted and M/s FNM property Providers Non-public Restricted, the 2 Benami entities linked to the Chandras.
Sanjay Chandra and his older brother, Ajay Chandra, are the previous homeowners of Unitech, which was an actual property big for a number of years. The brothers have been arrested in 2017 for failing to construct homes for which they’d collected a whole bunch of crores of rupees. Additionally they face prices of cash laundering and different monetary crimes.
Earlier this 12 months, the company filed a case below the Prevention of Cash Laundering Act (PMLA) towards the Group and the Chandras over allegations that they illegally diverted over Rs 2,000 crores to Cyprus and the Cayman Islands.
The central probe company had earlier raided a number of areas in Haryana, UP, and Rajasthan on this regard. With this raid, the full attachment has reached Rs. 690.66 crores within the case. The full proceeds of crime detected by the ED is Rs 7,638.43 crores on this case.
The ED had claimed its investigation discovered that for “buying these properties, funds have been transferred by way of Singapore-based corporations like Joshu Pte Ltd, Trikar Residential Builders Pte Ltd, and Trikar Property Alternatives Pte Ltd throughout 2015-2020.”
“The supply of funds in these corporations was from a Cayman Island-based entity specifically Trikar Fund Restricted (SPC) which is being managed by the Chandra household by way of one other Cayman-based entity Trikar Asset Administration Ltd SPC,” it stated.
The ED claimed that after evaluation of seized information adopted by the admissions of varied individuals, the “Benami construction” (of corporations) has been unraveled.
“It’s extremely doubtless that this Benami funding is the a part of the fund diverted to Cayman Island and Cyprus,” it stated.
The Supreme Courtroom had final month ordered the suspension of officers at Tihar jail for colluding with the brothers and permitting them to run their enterprise from inside jail in violation of all guidelines.