New Delhi, Mar 30 (IANS): The Enforcement Directorate (ED) said on Tuesday that it has attached 12 properties worth Rs 152.48 crore owned by the promoters of Unitech Group in Gurugram through proxy or benami entities.
An ED official said that the financial probe agency attached properties in the form of 12 land pieces measuring 48.56 acres in Gurugram with a registered value of Rs 152.48 crore under the relevant sections of the Prevention of Money Laundering Act (PMLA).
The official said that these land pieces are owned by the promoters of Unitech Group through proxy or benami entities -- Crown Infra Projects Pvt Ltd, Kore Communities India Pvt Ltd and Joshu Gurgaon SEZ Pvt Ltd.
The official said that these three companies are part of one Trikar Group or Kore Group which is benami investment of the Chandra family of Unitech Group.
The official said that the agency had registered a case on the basis of multiple FIRs registered by the Delhi Police.
"During the money laundering probe, it was revealed that for purchasing these properties, funds were transferred through Singapore based companies namely Joshu Pte Ltd, Trikar Residential Developers Pte Ltd and Trikar Property opportunity Pte Ltd during the period 2015-2020," the official said.
He said the source of funds in these Singapore-based companies was from a Cayman Island-based entity namely Trikar Fund Limited (SPC), which is being controlled by the Chandra family through another Cayman-based entity, Trikar Asset Management Ltd SPC.
The official said that the agency had conducted searches at 35 premises in Delhi-NCR and Mumbai.
He said that during the analysis of seized records followed by the admissions of various persons, the above benami structure was unearthed.
The official said that further probe revealed that the promoters of Unitech Group had illegally diverted more than Rs 2,000 crore to Cyprus and Cayman Island.
The official added that it is highly likely that this benami investment is part of the funds diverted to Cayman Island and Cyprus.