An investigation by ED On Unitech Groups money-laundering case of worth Es 106.08 crore

Enforcement Directorate has provisionally affixed 3 land parcels worth Rs 106.08 Crore, located in Gurugram, Haryana for which the inquiry being performed against The Unitech Group. These packages had been bought by two dummy commodities of Chandra’s namely M/s Erode Projects Pvt Limited & M/S Kore communities Pvt Limited from the companies of Unitech Group.

Recently ED inaugurated a money-laundering investigation as several FIRs were filed by homebuyers against Unitech Group & its promoters before Delhi Police. The entire proceeds of fraud, in this case, is Rs 5063.05 crore as discerned till now.

An inquiry by ED found that the above said parcels were obtained by M/s Erode Projects Pvt Limited & M/s Kore communities Pvt Limited from the proceeds of crime induced out of the scheduled offense. Both these companies are governed by the promoters of Unitech Group and Proceeds of Crime have been transmitted to these organizations after considerable layering in Singapore and Cayman Island.

On 4th March, ED (Enforcement Directorate) had performed an investigation operation at 35 premises of Shivalik Group, Trikar Group, Unitech Group & Carnoustie Group situated in NCR & Mumbai. After examination of seized records pursued by the revelations of several persons, the above diversion & layering of POC   has been disclosed. Previously the Enforcement Direct ate had attached immovable properties to the tune of Rs 431 crore that belongs to Trikar Group, Carnoustie Group & Shivalik Group. With this attachment, the total attachment, in this case, reached Rs 537 Crore (approximately).