CBI books Chandras of Unitech for Defrauding Canara Bank
New Delhi: The Directors of realty player Unitech-Ramesh Chandra and his sons Sanjay and Ajay have been booked by CBI for defrauding Canara Bank to the tune of Rs 198 crore.
The bank filed a complaint last month and alleged that Chandras had availed several credit facilities but defaulted on payments many times.
The complaint by Canara Bank referred to the forensic report which was ordered by the Supreme Court that found Rs 14,270 crore was collected by Unitech from thousands of home buyers but only Rs 5,0365 crore was used for construction activities.
The complaint also highlighted the findings that subsidiaries of Unitech had made investments of Rs 1,746 crore in several companies in Cyprus.
The account of the realty firm with Canara Bank was declared as non-performing asset in early 2017.