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New Delhi: Delhi’s Patiala House Court on Monday rejected the bail plea of former Unitech promoter Sanjay Chandra’s wife Preeti Chandra in the money laundering case.
The ED had last year arrested Unitech Group founder Ramesh Chandra, Preeti Chandra (Sanjay Chandra’s wife) and Carnosite Group’s Rajesh Malik in the case. According to the ED, Unitech Ltd., where accused Ramesh Chandra is chairman, co-accused Ajay Chandra and Sanjay Chandra are directors, collected funds from home buyers for housing projects.
According to ED, this amount is several thousand crores of rupees. But the amount was not used for the purpose for which it was collected. The accused diverted the money to several other accounts. Thus the home buyers were cheated and the accused were involved in money laundering.
According to ED, accused Preeti Chandra received crime proceeds of Rs. His company Prakausli Investments Pvt Ltd. 107.40 crores. He did not disclose the ultimate use of the said proceeds of crime.
Additional Sessions Judge Additional Sessions Judge (ASJ) Rajinder Singh while rejecting the bail plea noted that the accused were accused of receiving unaccounted money in Prakausli’s account. The volume of transactions between various entities in the current field is huge and complex. It is not advisable to discuss the said transactions in detail at the stage of bail consideration.
During further interrogation of the petitioner/accused while in judicial custody, information about three more flats in Dubai was obtained. The same has been attached, the court noted.
The entire transaction involved a large number of home buyers (around 1,000 households). In view of the enormity of the transaction and the seriousness of the allegations, this Court finds no basis for granting bail to the applicant/accused Preeti Chandra. Accordingly, the present bail application of the applicant/accused Preeti Chandra is dismissed, the Court orders.
Advocates Vijay Aggarwal and Adit Pujari appeared for Preeti Chandra and advocates Naveen Kumar Matta and Arun Khatri represented the Enforcement Directorate in the matter.
Predecessor ASJ Dharmender Rana had earlier taken cognizance of the charge sheet and said, “Considering the material available on record, I take cognizance of the commission of the offense punishable under 3/4 of PMLA.”
Earlier, the Enforcement Directorate (ED) had attached assets worth Rs 18.14 crore belonging to two anonymous entities of erstwhile Unitech Group promoters Ajay Chandra and Sanjay Chandra.
The attached properties include a multiplex in Gurugram, six commercial properties in Gurugram and Lucknow and 24 bank accounts and fixed deposit receipts, the agency said.
“These assets are held in the name of Enova Facility Management Services Pvt Ltd and FNM Property Services Pvt Ltd which are unincorporated entities of Chandras,” the ED said.
The ED has initiated a money laundering probe based on various FIRs filed by home buyers against the Delhi Police and the Central Bureau of Investigation Unitech Group and its promoters.
“The total amount of crime detected by the ED in this case is Rs 7,638.43 crore,” the ED said.
The ED’s investigation revealed that these two anonymous entities were run by the Chandras through their close confidants and the associated assets were acquired and generated from proceeds of crime diverted from the Unitech Group. (ANI)
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