ED Attaches ₹335-Crore Assets in Unitech Group Money Laundering Case

 The Enforcement Directorate (ED) has taken significant action in the Unitech Group money laundering case by attaching assets worth ₹335 crore. These assets are linked to Unitech Group and a related company and have been seized under the Prevention of Money Laundering Act (PMLA). The assets include ₹319 crore in movable properties from Unitech International Realty Fund (UIRF) and ₹16 crore from Sahana Builders Private Limited.

ED seizes ₹335 crore worth of Unitech Group assets under anti-money laundering law
ED seizes ₹335 crore worth of Unitech Group assets under anti-money laundering law

The case originates from investigations initiated following FIRs lodged by the Delhi Police and the Central Bureau of Investigation (CBI) against Unitech Limited. A 2019 Supreme Court order also mandated a deeper investigation into the financial irregularities. The ED claims that Unitech's promoters, Sanjay and Ajay Chandra, played a central role in diverting funds from homebuyers and investors, amounting to a total of ₹7,612 crore.

Further, the ED's probe revealed that the Chandra family established the UIRF through companies such as Auram Asset Management and Cayman Islands-based Uniwell Limited, to siphon off money from Unitech. The attached assets include land rights in Agra, Varanasi, Mohali, and Chennai. To date, a total of 1,288 domestic and overseas assets worth ₹1,593 crore have been attached. The ED has regularly updated the Supreme Court with status reports as the investigation unfolds.

This move reflects ongoing efforts to clamp down on financial misdeeds and ensure justice for the affected stakeholders in the Unitech Group case.

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