ED attaches ₹81.10-crore assets in Unitech Group case
[ad_1]
The Enforcement Directorate has connected assets value ₹81.10 crore, together with a helicopter, in reference to the cash laundering probe towards the Unitech Group and others.
The connected properties embody 101 land parcels positioned in Santacruz in Mumbai owned by the Shivalik Group. The helicopter is owned by King Rotors Air Charters Private Limited, an affiliate firm of the Shivalik Group, stated the company.
The ED alleges that the Unitech Group diverted proceeds of the crime, to the tune of ₹574 crore, to the Shivalik Group and, in flip, the entities of the Shivalik Group purchased the land parcels and the helicopter.
On March 4, the ED carried out searches at 35 areas on the premises of the Shivalik Group, Trikar Group, Unitech Group and the Carnoustie Group in the nationwide capital area and Mumbai, which led to seizure of paperwork pertaining to suspect transactions.
The company had earlier connected immovable properties value ₹349.82 crore of the Trikar Group and the Carnoustie Group. They included two resorts in Gangtok (Sikkim) and Alappuza (Kerala), workplace premises and land parcels.
According to the ED, the accused individuals had diverted greater than ₹2,000 crore to Cyprus and Cayman Islands. A portion of the diverted funds was introduced again to purchase land parcels in Gurugram through Crown Infra Projects Private Limited, Kore Communities India Private Limited and Joshu Gurgaon SEZ Private Limited.
The cash was transferred by Singapore-based Joshu Pte. Limited, Trikar Residential Developers Pte. Limited and Trikar Property Opportunity Pte. Limited between 2015 and 2020.
The funds have been despatched to the Singapore-based entities from Trikar Fund Limited (SPC) in Cayman Islands, which is allegedly managed by the promoters through Cayman-based Trikar Asset Management Limited SPC.
The cash laundering probe is predicated on a number of FIRs registered by the Delhi Police.
[ad_2]
