The Enforcement Directorate claimed through its special public prosecutor Kavita Patil that while Tekchandani is the director of Supreme Construction and Developers Pvt Ltd, the company took Rs 423 crore from apartment purchasers but did not grant them ownership.
A house buyer filed a formal complaint (FIR) at the Taloja police station in Navi Mumbai against Tekchandani on claims of deception and other offenses.
Builder Lalit Tekchandani was arrested by the Enforcement Directorate on Monday concerning suspected money laundering involving his building ventures. A special court gave the agency custody of Tekchandani until March 26.
A house buyer filed a formal complaint (FIR) at the Taloja police station in Navi Mumbai against Tekchandani on claims of deception and other offenses. Out of the 1,800 investors in a Tekchandani project, 160 have come forward with claims that they paid a total of Rs 44.25 crore between 2014 and 2016 to get homes in 2017.
The ED claimed through its special public prosecutor Kavita Patil that while Tekchandani is the director of Supreme Construction and Developers Pvt Ltd, the company took Rs 423 crore from apartment purchasers but did not grant them ownership.
The agency said that he had deceived credulous flat purchasers and embezzled the funds. Following his detention in a different case, Tekchandani was in judicial custody. The agency had him detained and was requesting his production before the court.
Tekchandani’s attorney, Taraq Sayyed, claimed that all of his work was completed and that the reason for the delay in possession was government compliance. The Directorate of Enforcement has to be given a chance to establish its case, according to Special Judge M G Deshpande, who is giving the agency custody until March 26.
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