Mumbai: The Enforcement Directorate’s (ED) Mumbai zonal unit has submitted a chargesheet in a city special court against developer Lalit Tekchandani and 15 others, as part of their money-laundering probe for allegedly duping prospective homebuyers of ₹400 crore.
The construction firm, M/s Supreme Construction & Developer Pvt Ltd (SCDPL), which Tekchandani and the others allegedly represented, had collected huge funds from homebuyers for a project in Taloja, Navi Mumbai.
According to the agency, the home buyers allegedly did not get their promised flats, nor the money they paid to the firm.
ED arrested Tekchandani on March 18, and he is currently in judicial custody. His interrogation has revealed that the funds received from the homebuyers were allegedly laundered by the builder for personal gains and creation of assets in various names, including family members, ED alleged.
The agency’s investigation is based on two cases registered by the Taloja police and the Chembur police. It was alleged in the police cases that M/s Supreme Construction & Developer Pvt Ltd (SCDPL), collected huge funds from homebuyers for a housing project in Taloja. The homebuyers were allegedly neither given flats nor was the money returned to them. ED’s probe found that the SCDPL collected more than ₹400 crore funds from several homebuyers.
Further, the probe found that the delays in the project allegedly left these homebuyers in the lurch without their flats or refunds. ED’s investigation revealed that Tekchandani allegedly had alienated the properties of SCDPL despite his exit from the ownership and directorship of the company, with the assistance of other accused persons. It was also revealed that the accused persons were allegedly transferring the receivables of the firm into the account of an associate entity, thus diverting the funds.
{{/usCountry}}Further, the probe found that the delays in the project allegedly left these homebuyers in the lurch without their flats or refunds. ED’s investigation revealed that Tekchandani allegedly had alienated the properties of SCDPL despite his exit from the ownership and directorship of the company, with the assistance of other accused persons. It was also revealed that the accused persons were allegedly transferring the receivables of the firm into the account of an associate entity, thus diverting the funds.
{{/usCountry}}After identifying the proceeds of the crime, ED had earlier provisionally attached assets worth an estimated value of ₹113.5 crore in the case. ED had also frozen/seized investments in shares/ mutual funds/ fixed deposits worth ₹43 crore.
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