The Enforcement Directorate on Monday arrested Unitech founder Ramesh Chandra, his daughter-in-law Preeti Chandra and an executive of a company in connection with a money-laundering probe against the real estate group and its promoters, officials said.
They said the three were taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA) in the case against Ramesh Chandra’s sons — Sanjay Chandra and Ajay Chandra. Preeti Chandra is the wife of jailed Unitech promoter Sanjay Chandra.
Earlier this year, the ED had informed a local court that Preeti Chandra was “involved in laundering and layering of funds deposited by home buyers” with the Unitech promoter. The federal agency had also alleged that Preeti had financial linkage with the company and “substantial funds were diverted” from Unitech and its subsidiaries to Chandra’s personal account.
The agency had also filed a criminal case under various sections of PMLA against the Unitech Group and its promoters over allegations that the owners, Sanjay Chandra and Ajay Chandra had illegally diverted over ₹ 2,000 crore to Cyprus and the Cayman Islands.
On March 4, ED conducted raids at a total of 35 locations of the Shivalik Group, Trikar Group, Carnoustie Group and Unitech Group in Mumbai and Delhi NCR. Ramesh Sanjay and Ajay Chandra are already accused of allegedly defrauding ₹ 198 crore from Canara Bank. The bank had said Unitech, a customer since 1971, had availed various credit facilities and had defaulted on several payments.