ED started investigation against Lalit Tekchandani, associated with Supreme Construction and Developers Pvt. Ltd. Ltd. (SCDPL), and 15 other persons/entities were filed at Chembur and Taloja police stations in Mumbai and Raigarh respectively.
The central probe agency filed its charge sheet against the accused under the Prevention of Money Laundering Act, 2002, before the special PML court here, which took cognizance of it on Wednesday.
The investigation found that SCDPL and Techchandani, in connivance with others, allegedly collected a huge sum of Rs 400 crore from home buyers for their upcoming project in Taloja.
However, after lengthy delays, potential buyers did not receive their promised homes or their money back, leaving them in limbo.
The ED investigation found that Tekchandani, with the help of other accused, misappropriated the assets of SCDPL even though he had stepped down as owner and director of the company.
The accused also transferred company funds to the accounts of associate entities and committed other irregularities, leading to Tekchandani's arrest on March 18. Presently he is in judicial custody.
His custodial interrogation by the ED revealed that he had laundered clients' money for personal gain and for investing in properties in the name of himself and other family members.
After identifying the proceeds of crime, the ED ordered temporary attachment of movable and immovable properties worth Rs 113.5 crore.
ED also attached/seized other assets worth Rs 43 crore in the form of shares/bank deposits/mutua funds etc.
Further investigation is underway.
The central probe agency filed its charge sheet against the accused under the Prevention of Money Laundering Act, 2002, before the special PML court here, which took cognizance of it on Wednesday.
The investigation found that SCDPL and Techchandani, in connivance with others, allegedly collected a huge sum of Rs 400 crore from home buyers for their upcoming project in Taloja.
However, after lengthy delays, potential buyers did not receive their promised homes or their money back, leaving them in limbo.
The ED investigation found that Tekchandani, with the help of other accused, misappropriated the assets of SCDPL even though he had stepped down as owner and director of the company.
The accused also transferred company funds to the accounts of associate entities and committed other irregularities, leading to Tekchandani's arrest on March 18. Presently he is in judicial custody.
His custodial interrogation by the ED revealed that he had laundered clients' money for personal gain and for investing in properties in the name of himself and other family members.
After identifying the proceeds of crime, the ED ordered temporary attachment of movable and immovable properties worth Rs 113.5 crore.
ED also attached/seized other assets worth Rs 43 crore in the form of shares/bank deposits/mutua funds etc.
Further investigation is underway.
