Unitech MDs held for laundering Gurugram housing project funds
Brothers Sanjay and Ajay Chandra, the managing directors of real estate giant Unitech, were arrested by the Economic Offices Wing (EOW) of Delhi Police late on Friday for allegedly not developing a project in Gurugram despite receiving funds from investors. After the arrest, both were produced in a Delhi Court and sent to police custody till April 3.
"A team of the EOW went to Gurugram on Friday night and raided the residence of Sanjay Chandra and Ajay Chandra. The team arrested them for laundering around Rs 35 crore," said Delhi Police spokesperson Madhur Verma.
The cops said that there are 91 complaints against them in connection with the Gurugram project. Sources also said that valid permission from the respective authorities had also not been taken.
According to the police, the case had been registered on July 31, 2015, in compliance with a July 27, 2015, order passed by a Delhi court on the complaint of Delhi residents.
The complainants in the case alleged that they had been induced by the real estate company to book their flats in August 2011 in a residential project named 'Wild Flowers Country' in Gurugram for floors by the name pf Anthea Floors for A total sum of Rs 57.34 lakh.
Later, 90 more complaints were received against the firm for the same project which were clubbed with the present first information report (FIR).
Metropolitan Magistrate Ashu Garg sent both the accused to two-day police custody after the probe agency said that their custodial interrogation was required to identify the alleged money trail, beneficiaries of the transactions, and recovery of project-related documents and other evidence.
The counsel for the accused, however, opposed the remand plea, saying that the police had already searched the premises of the accused and they cannot, therefore, be forced to give any incriminating evidence against them. The counsel requested the court to send the duo to judicial custody instead.
The project was originally scheduled to be completed by 2014.The accused have been booked under charges dealing with criminal breach of trust, cheating and criminal conspiracy.
Later, the court sent both brothers Ajay and Sanjay Chandra to police custody till April 3.