Unitech group case: ED attaches land worth Rs 125 crore
CHENNAI: Directorate of Enforcement has provisionally attached 39.83% share of 4.79 acres of land forming parts of the township Uniworld City, Nallambakkam near Chennai, in the case of Unitech Group.
The value of the land attached is worth Rs 125.06 crore. Till now, 2 prosecution complaints have been filed by the ED and cognizance of the same have been taken by PMLA Court. So far in 17 provisional attachment orders, various domestic and overseas assets having total value of Rs. 1257.61 crore have been attached, said a press note from the ED.
Total proceeds of crime of Rs. 7612 crore has been detected till now in this case. The said land is owned by Unitech Infopark Limited in which 39.83% shares are held by Narnil Infosolutions Private Limited (a benami company of Chandras the Promoters of Unitech Group).
ED initiated investigation on the basis of various FIRs registered by Delhi Police and CBI, based on complaints by homebuyers against Unitech Group, its promoters and others. ED investigation revealed that Chandras of Unitech had invested the Proceeds of Crime to the tune of USD 15,087,114 (present value Rs 125.06 Crore) through Narnil Infosolutions into Unitech Infopark Limited in the year 2009-10 by acquiring 39.83% shares of the said company.
Investigation revealed that Narnil Infosolutions is beneficially owned by Chandras and was being controlled through their associates.
During the course of investigation ED had arrested five individuals namely Sanjay Chandra, Ajay Chandra, Ramesh Chandra, Preeti Chandra and Rajesh Malik.
