The ED, in this case, had arrested the founder of Unitech Group Ramesh Chandra, Preeti Chandra (Sanjay Chandra’s wife) and Rajesh Malik of Carnoustie Group last year New Delhi: The Delhi High Court on Wednesday issued a notice to the Enforcement Directorate (ED) on a bail plea of former Unitech... The post appeared first on .

The ED, in this case, had arrested the founder of Unitech Group Ramesh Chandra, Preeti Chandra (Sanjay Chandra’s wife) and Rajesh Malik of Carnoustie Group last year New Delhi: The Delhi High Court on Wednesday issued a notice to the Enforcement Directorate (ED) on a bail plea of former Unitech... The post appeared first on .

New Delhi Apr 20 PTI The Supreme Court on Wednesday asked the Enforcement Directorate to file a status report on steps taken to bring back Unitech Ltd home buyers money amounting to Rs 5000 crores which has been siphoned off and stashed in a tax haven like CyprusThe top court also appointed former Supreme Court Judge AM Sapre to look into the policy and finalization of standard operating procedure for monetization of project land assets and non-project land assets of UnitechA bench of Justices DY Chandrachud and MR Shah told Additional Solicitor General Madhavi Divan appearing for Enforcement Directorate ED to file a status report about steps that could be taken to liquidate the attached properties so that the funds could be utilised in the construction of stalled projectsDivan submitted that since the new board of management of Unitech has highlighted a fund crunch the assets which have been provisionally attached as proceeds of crime have a book value of Rs 380 crores and market value of Rs 1000 Crore and on the direction of the court it could be liquidated and funds could be used for construction of the stalled projectThe bench said that it cannot interfere or take over the powers of the special Prevention of Money Laundering Act PMLA court and all it can do is expedite the hearing in these mattersYou have to follow the due process of law These properties cannot be appropriated like this We cannot pre-judge that these are proceeds of crime You have to move the PMLA court The attachment has been done as per the due process of law and it has to be dealt with further as per the procedure the bench saidThe bench said that there are certain things that the Supreme Court can do while exercising jurisdiction under Article 142 and there are certain things that it cannot do You ED file a status report indicating the steps which have been taken to bring back the money which has been stashed abroad in tax havens like Cyprus and also the steps which could be taken to ensure liquidation of attached properties as per the due process of law the bench saidDealing with the monetization of project land assets and non-project land assets the bench said that it would be appropriate if a former judge of this court oversee the policy and formulate a standard operating procedureWe accordingly appoint former apex court Judge AM Sapre to assist the board of management under the auspices of this court in the finalisation of the policy and standard operating procedure The proposed SOP which is formulated shall be placed before Justice retd AM Sapre for his scrutiny and modifications if any in his regard be considered the bench saidThe top court said that appointment of a former judge would ensure transparency and realise the best possible price of the assets which would fund the construction of Units for home buyersOn March 25 the top court had conditionally allowed former Unitech promoter Sanjay Chandras wife Preeti lodged in Tihar Jail in a money laundering case five hours out of the prison on March 26 or April 5 to attend her maternal grandmothers funeralOn March 23 the top court had asked the ED to file its response on a plea filed by Preeti seeking interim bail to take part in the last ritesThe ED had expressed apprehension that she may leave the country if granted bail and said it is better to be safe than be sorry The ED had recently filed a fresh charge sheet before a court here in connection with its money laundering probe against realty group Unitech its ex-promoter brothers Sanjay Chandra and Ajay Chandra and othersThe ED had made a startling claim in November last year that it had unearthed a secret underground office here which was being operated by erstwhile Unitech founder Ramesh Chandra and visited by his sons Sanjay and Ajay when on parole or bailBoth Sanjay and Ajay in jail since August 2017 are accused of allegedly siphoning off home buyers moneyOn November 10 last year the top court had said that it is a sorry state of affairs in Tihar Jail which has become a den of criminals and murders are happening thereIt had directed the Home Ministry to take immediate steps on prison reforms and enhance managementPTI MNL MNL RKS RKS

New Delhi Feb 18 PTI The Enforcement Directorate has filed a fresh chargesheet before a court here in connection with its money laundering probe against realty group Unitech its promoter brothers Sanjay Chandra and Ajay Chandra and others the federal agency said on Friday The chargesheet was filed on Thursday before the Rouse Avenue court here and the court has taken cognisance of the prosecution compliant field under various sections of the Prevention of Money Laundering Act PMLA it said Sanjay Chandra Ajay Chandra Ramesh Chandra their father and founder of the Unitech group Preeti Chandra wife of Sanjay Chandra Rajesh Malik promoter of accused company Carnoustie group and 66 domestic and overseas companies have been arrayed as accused in the chargesheet the Enforcement Directorate ED said All five are in judicial custody at present This is the second chargesheet by the agency against the accused The first was filed on December 2 last year The ED had filed a money laundering case against the group its promoters and linked companies on June 6 2018 on the directions of the Supreme Court and also after taking cognisance of two Delhi Police FIRs filed by the economic offences wing EOW and the Saket police station The agency has conducted as many as 43 raids in this case issued 11 attachment orders which includes 297 domestic and overseas assets worth a total of Rs 763 crore till now Properties of other accused companies like Carnoustie Group Shivalik Group Trikar Group as well as the personal and shell dummy companies linked to the Chandras have been attached it said The ED said the total proceeds of crime detected in this case stand at Rs 6352 crore and it has also filed five status report before the apex court updating it about the investigation being conducted under the criminal sections of the PMLA PTI NES AQS AQS

New Delhi [India], December 21 (ANI): The Enforcement Directorate (ED) on Tuesday arrested former Unitech Group promoters Ajay Chandra and Sanjay Chandra in a money laundering case.

New Delhi [India], October 12 (ANI): An FIR was registered in Delhi Police Crime Branch under relevant sections of the Prevention of Corruption Act on Tuesday after 32 Tihar Jail officials were found to be complicit with former Unitech promoters Ajay Chandra and Sanjay Chandra.