Curated Through: Poulami Kundu
Ultimate Up to date: February 12, 2024, 23:18 IST
Mumbai-based builder Lalit Tekchandani used to be arrested on January 30 in a housing fraud case. (Report picture)
The Enforcement Directorate (ED) carried out searches beneath the provisions of the Prevention of Cash Laundering Act (PMLA), 2002, in a case of dishonest flat patrons
Probe company Enforcement Directorate (ED) on Monday performed searches at 22 places connected to Mumabi-based builder Lalit Tekchandani in a cash laundering case associated with a housing venture in Navi Mumbai. The probe company’s raids ended in the seizure of greater than Rs 30 crore.
ED had initiated an investigation in line with two circumstances registered by way of Taloja Police Station and Chembur Police Station beneath more than a few sections of the Indian Penal Code. Later, it carried out searches beneath the provisions of the Prevention of Cash Laundering Act (PMLA), 2002, with regards to dishonest potential patrons of apartments.
Mumbai-based builder Lalit Tekchandani used to be arrested on January 30 in a housing fraud case, during which the complainant had invested Rs 36 lakh in Tekchandani’s development venture at Taloja in Navi Mumbai. The development of the venture, then again, were given caught a 12 months prior to its time limit in 2017.
The ED investigation printed that M/s Superb Development and Developer Pvt Ltd accumulated massive finances amounting to greater than Rs 400 crore from greater than 1,700 homebuyers in a housing venture in Taloja, Navi Mumbai.
Delays within the venture left those homebuyers within the lurch with no flat or refund. ED probe printed that the finances gained from the homebuyers had been siphoned off by way of the builder for private positive factors and the advent of belongings in more than a few names, together with members of the family.
Throughout searches carried out by way of the ED, money of Rs 27.5 lakh and incriminating paperwork on the subject of the purchase of large houses in more than a few names together with members of the family of Tekchandani had been recovered and seized.
Virtual units and different documentary proof have additionally been seized all the way through the quest operation. Main points of mounted deposits (FDs) value Rs 29.73 crore have additionally been unearthed all the way through the searches.
