19 April,2024 09:01 AM IST | Mumbai | mid-day online correspondent
Enforcement Directorate/ File photo
The Enforcement Directorate (ED) has issued a provisional attachment order (PAO) under the Prevention of Money Laundering Act (PMLA) for assets worth Rs 113.5 crore linked to builder Lalit Tekchandani and his partners in a case involving defrauding potential homebuyers.
The connected assets include a home in Aambey Valley, residential and commercial properties in Mumbai, land parcels in the Raigad district, and fixed deposits totalling Rs 113.5 crore. The agency has already frozen/seized investments in shares, mutual funds, and fixed deposits totalling Rs 43 crore, stated an IANS report.
According to the report, the ED's probe, which began after two FIRs were filed in Mumbai, stated that Supreme Construction & Developer Pvt Ltd, represented by Tekchandani and others, received significant money from over 1,700 homeowners in a housing project in Taloja, Navi Mumbai. However, delays in the project prevented these homebuyers from receiving flats or refunds.
"The probe revealed that Supreme Construction collected funds amounting to more than Rs 400 crore from more than 1,700 homebuyers in a housing project at Taloja. Delays in the project left these homebuyers in the lurch without flats or refunds," the report quoted the ED statement released on Thursday.
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As per the report, Lalit Tekchandani, arrested by the ED on March 18 under PMLA provisions, is still in judicial custody.
During interrogation, it was discovered that cash collected from homebuyers was laundered for personal gain and used to create assets in numerous names, including those of family members, the report added.
"His interrogation revealed that the funds received from the homebuyers were laundered by the builder for personal gains and creation of assets in various names, including family members," the ED statement further stated.
Despite leaving Supreme Construction as owner and director, Tekchandani allegedly disposed of the company's properties with the help of other accused individuals.
Earlier in February, the ED had carried out searches at 22 locations in Mumbai and Navi Mumbai which were linked to builder Lalit Tekchandani and had freezer Rs 30 crore then. The ED, reportedly, had carried out the searches on February 7 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 in a cheating case.
