RK Arora, the chairman of real estate company Supertech, has been arrested by the Enforcement Directorate (ED) in connection with a money laundering case.
Arora was taken into custody under the criminal sections of the Prevention of Money Laundering Act (PMLA) after being questioned for the third time on Tuesday.
The money laundering case against Supertech, its directors, and promoters originated from multiple First Information Reports (FIRs) registered by the police departments in Delhi, Haryana, and Uttar Pradesh.
According to the FIRs, Supertech and its directors were accused of defrauding home buyers by collecting funds as advances for booked flats but failing to deliver the promised properties to them.
In April, the ED had already seized assets worth over Rs 40 crore belonging to the real estate group and its directors.
It is worth noting that last year, Supertech’s twin towers in Noida, which were built illegally, were demolished following a court order. The demolition involved the use of over 3,000 kg of explosives.
The arrest of RK Arora marks a significant development in the ongoing investigation into the alleged money laundering activities of Supertech and its key personnel. The authorities are committed to pursuing justice and ensuring that those involved in financial irregularities are held accountable.
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