New Delhi [India], February 13 (ANI): The Directorate of Enforcement (ED) conducted raids at 22 locations linked to builder Lalit Tekchandani and his associates in a money laundering case, seizing assets worth Rs 30 crore. The raids, carried out under the provisions of the Prevention of Money Laundering Act, resulted in the seizure of cash, freezing of bank balances, and fixed deposits. The investigation was initiated based on two FIRs filed against Supreme Construction and Developer Pvt Ltd, a company represented by Tekchandani, for allegedly cheating prospective buyers of flats in a housing project in Taloja, Navi Mumbai. The company collected over Rs 400 crore from more than 1700 homebuyers, leaving them without flats or refunds. The ED revealed that the funds were siphoned off for personal gains and the creation of assets in various names. Cash, incriminating documents, and details of frozen FDs worth Rs 29.73 crore were recovered during the raids. The investigation is ongoing.
Builder’s Money Laundering Case: Rs 30 Cr Seized in ED Raids on Lalit Tekchandani’s Linked Locations, India
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