New Delhi, June 28 (SocialNews.XYZ) A Delhi court on Wednesday granted Supertech Group Chairman R.K. Arora’s custody to the Enforcement Directorate (ED) for interrogation till July 10 in connection with a money laundering case under the Prevention of Money Laundering Act (PMLA).
On the probe agency filing an application seeking Arora’s 14-day custody, Duty Sessions Judge Devender Kumar Jangala of Rouse Avenue Court allowed its request.
The agency said that the accused was required to be interrogated to unearth a larger conspiracy in the case.
The ED arrested Arora on Tuesday after it recently attached properties worth Rs 40 crore belonging to Arora.
The sources said that Arora was called to join the probe.
“He had been coming to the ED’s headquarters for three consecutive days. On Tuesday, we finally placed him under arrest,” the ED source had said.
Appearing for the federal agency, Special Public Prosecutor N K Matta apprised the court that the company and its directors had indulged in a criminal conspiracy to cheat people by collecting funds from prospective buyers as advance against flats booked in real estate projects.
He said the firm failed to adhere to the agreed obligation of providing the possession of the flats on time and ended up defrauding the general public.
The money laundering case stems from a bunch of FIRs registered by the police in Delhi, Haryana, and Uttar Pradesh.
The sources said that money collected through real-estate business was invested in several firms through money laundering.
It has been alleged that money was collected from the home buyers and later transferred to several accounts of firms involved in other businesses.
“This way, the home buyers were cheated,” the source said.
Arora couldn’t provide satisfactory answers, leading to his arrest.
A month ago, the Dadri administration in Greater Noida had issued a notice against Arora and Supertech, asking them to repay a total of Rs 37 crore. After the notice was served, Arora was detained at the local DM office, but was released later.
Sources said that several FIRs have been filed against Arora and Supertech. They also took loans from banks, and their accounts reportedly turned into Non-Performing Assets (NPA).
Source: IANS
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