Unitech’s land worth ₹125 crore attached by ED

Chennai: The Enforcement Directorate (ED) has attached land worth 125 crore of Delhi-based Unitech Group in the suburbs of Chennai, under the Prevention of Money-Laundering Act (PMLA). This 17th provisional attachment of the company’s assents by the central agency takes the total value to 1,258 crore. The nearly two-acre parcel of land is part of 4.79 acres in which Uniworld City, a township, stands at Nallambakkam, near Vandalur in the southern fringes of Chennai.ED had initiated investigation on the basis of various FIRs registered by Delhi Police and CBI, based on complaints by homebuyers against Unitech Group, its promoters and others.Investigation by ED revealed that the accused Sanjay Chandra, Ajay Chandra, Ramesh Chandra, Preeti Chandra and Rajesh Malik invested the proceeds of Crime to the tune of USD 15,087,114 (present value 125.06 Crore) through their benami company Narnil Infosolutions Private Limited into Unitech Infopark Limited in the year 2009-10 and acquired 39.83% shares of the said company.ED has already arrested the five accused and filed two prosecution complaints against them.The properties worth 1,258 crore attached so far includes assets of Carnoustie Group, Shivalik Group, Trikar Group and the assets of shell and benami and personal companies of Chandras. So far, proceeds of crime to the tune of 7,612 crore have been detected.

ED attaches Delhi-based real estate firms Chennai property worth Rs 125 crore

The Enforcement Directorate has attached land worth Rs 125 crore belonging to Unitech Groups on the outskirts of Chennai under the Prevention of Money Laundering Act. This marks the 17th provisional attachment in the investigation, with a total of Rs 1,258 crore worth of properties seized so far. The investigation was initiated based on complaints by homebuyers against Unitech Group. The accused have been found to have invested the proceeds of their crimes through a benami company into Unitech Infopark Limited.

ED attaches forex firms assets worth 2.5cr

The Enforcement Directorate (ED) conducted a search operation on TP Global FX in Ahmedabad and seized cash, gold, luxury cars, and froze bank accounts. TP Global FX is not registered with the Reserve Bank of India (RBI) for forex trading, and the promoters are accused of defrauding the public. Assets worth Rs 121 crore have been seized or frozen. The investigation is ongoing. This is the second major operation by the ED in Gujarat recently.

Adani Group bags Rs 13,888 crore worth contracts for smart meter installation in Maharashtra

Adani Group has secured two contracts worth Rs 13,888 crore from a state-owned discom to install smart meters in Maharashtra. This follows their recent Rs 1,000 crore contract win to install smart meters in Mumbai. Adani Group will become the largest smart meter supplier in India, with a 30% market share, after winning contracts in multiple states. Other companies awarded contracts include NCC, Montecarlo, and Genus.