ED attaches 3 land parcels worth Rs 106 cr in Unitech money laundering case
New Delhi: Central government probe agency ED has attached three large land parcels worth Rs 106 crore in relation to the money laundering investigation against Unitech Grp.
The three land parcels are in Haryana. The ED, in a statement, said that provisional order for the attachment of land has been issued under various criminal sections of the Prevention of Money Laundering Act (PMLA).
"These parcels had been purchased by two dummy entities of the Chandras, namely Erode Projects Pvt Limited and Kore communities Pvt Ltd, from the companies of Unitech Group," the ED said.
The land parcels were bought by the “two dummy companies from the proceeds of crime generated out of scheduled offence", the ED said. The two dummy companies are Erode Projects Pvt Ltd and Kore Communities Pvt Ltd.
"Both these companies are controlled by the promoters of Unitech Group and proceeds of crime have been transferred to these companies after substantial layering in Singapore and the Cayman Islands," the ED said.
Earlier this year, the ED had filed a criminal case against the Unitech Grp and its promoters under various sections of the PMLA over the allegations that the promoters of the company siphoned off Rs 2,000 crore to Cyprus and the Cayman Islands.