Unveiling Unitech's Financial Web: A Rs 335-Crore Clampdown

The Enforcement Directorate has attached assets worth Rs 335 crore of the Unitech Group and a linked company under anti-money laundering laws. This follows an investigation into fraudulent fund diversion by the Chandra family, leading to significant asset attachments across various entities and locations.

The Enforcement Directorate (ED) has taken a significant step in cracking down on financial malpractices by attaching assets worth Rs 335 crore belonging to the Unitech Group and a linked company under the stringent anti-money laundering legislation.

The action stems from a thorough investigation following FIRs filed by the Delhi Police and CBI, further prompted by a Supreme Court directive. The probe revealed systematic fraud led by the Chandras of the Unitech Group, who allegedly diverted substantial funds from homebuyers, banks, and investors.

As part of the probe, the ED has attached properties linked to the Unitech International Realty Fund, diverting substantial sums to entities in Agra, Varanasi, Mohali, and Chennai. The accumulating financial irregularities underline a significant breach in legal financial practices.