ED attaches properties of ‘benami’ companies of Unitech Group
The Enforcement Directorate (ED) said that properties worth Rs 18.14 crore of alleged benami companies of Unitech Group have been attached under the Money Laundering Act. These attached properties include a multiplex in Gurugram (Haryana), Gurugram, besides six commercial properties in Lucknow, Uttar Pradesh, and 24 bank accounts and fixed deposits. The ED said that the value of these attached properties of Unitech Group is Rs 18.14 crore.
These two benami companies of Chandra brothers have properties
These properties are in the name of Innova Facility Management Services Pvt Ltd and FNM Property Services Pvt Ltd, which are benami companies of Chandra brothers (unitech promoters Ajay Chandra and Sanjay Chandra), the agency said in a statement. There are allegations that these two benami institutions were being run by the Chandra brothers through their close friends.
Know what is benami transaction
A benami transaction is an arrangement in which a property (movable or immovable) is transferred or taken in the name of a person, when in reality it is owned by some other person.
This money laundering case is based on a case filed by home buyers against Unitech Group and its promoters. The ED had earlier this year registered a criminal case against Unitech Group and its promoters under various sections of the Prohibition of Money Laundering Act, alleging that Unitech Group owners Sanjay Chandra and Ajay Chandra had illegally siphoned off Rs. More than crores of rupees were sent to Cyprus and Cayman Islands.
So far, total assets worth Rs 690.66 crore have been attached.
Total assets worth Rs 690.66 crore have been attached so far in this case. Let us inform that only last month, the Enforcement Directorate (ED) had arrested Unitech founder Ramesh Chandra, his daughter-in-law Preeti Chandra and a company executive officer in this case.
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