New Delhi [India], July 14 (ANI): The Enforcement Directorate (ED) has filed its Second Supplementary Prosecution Complaint (SPC) before the Special Court under the Prevention of Money Laundering Act (PMLA) on July 10.

The complaint has been filed against Ramesh Chandra and others, including several companies, namely M/s Shivalik Ventures Private Limited, M/s Auram Asset Management Private Limited, M/s Unitech Build Tech Limited, M/s Unitech Golf Resorts Limited, and M/s Ranchero Services Limited. This filing is part of the ongoing investigation into large-scale financial irregularities and money laundering involving Unitech Limited and its directors.

The ED initiated its probe on the basis of FIRs registered by the Central Bureau of Investigation (CBI) and Delhi Police under various sections of the Indian Penal Code (IPC), 1860, and the Prevention of Corruption Act, 1988. The accused include Unitech promoters Ramesh Chandra, Sanjay Chandra, Preeti Chandra, Ajay Chandra, and other individuals and entities.

This supplementary complaint is a critical part of a broader investigation into the alleged defrauding of over 29,800 homebuyers. These homebuyers had invested their life savings into various housing projects floated by Unitech Limited.

According to the ED, the promoters, in collusion with associates, engaged in a massive criminal conspiracy to divert and launder these funds. Despite collecting vast sums from buyers, no possession of flats was given, even after the promised timelines expired.

The ED has uncovered that out of Rs 16,075.89 crore collected from homebuyers and financial institutions, around Rs 7,794.35 crore was siphoned off by Unitech for unauthorised purposes. The investigation points to Ramesh Chandra and his family's involvement in diverting funds into various benami firms and personal concerns through multiple fraudulent methods.

These methods included acquiring shares of companies at inflated prices, diverting money to entities like Carnoustie Management Pvt. Ltd. and the Shivalik Group, and misusing venture capital funds such as CIG Realty Fund-I, II, and IV. The agency also found evidence of complex international fund layering, where the proceeds of crime were routed through the UAE, Cayman Islands, and Singapore using a network of shell companies under the Trikar Group, before being brought back into India.

Moreover, the ED highlighted that proceeds of crime were also used to purchase personal assets abroad, including three flats in Dubai acquired by Preeti Chandra through diverted funds.

To date, the ED has identified proceeds of crime worth Rs 1,621.91 crore, and attached 1,291 properties through 21 Provisional Attachment Orders (PAOs)--all of which have been confirmed by the Adjudicating Authority.

With this second supplementary filing, the total number of individuals and entities arraigned by the ED now stands at 105, spread across three prosecution complaints (one original and two supplementary).

The Special Court (PMLA), New Delhi, has fixed July 31 as the date for consideration of the chargesheet filed by the Enforcement Directorate. (ANI)