ED links assets worth Rs 81 cr against Unitech Group in PLMA case

24 Jun 2021 CW Team

In connection with a money-laundering probe against realty firm Unitech Group, the Enforcement Directorate (ED) has attached a helicopter and over 100 land parcels in Mumbai worth a total of Rs 81 crore, the agency announced on Wednesday.

Under the criminal sections of the Prevention of Money Laundering Act (PMLA), a provisional order for attachment of these properties owned by the Shivalik Group and its associates has been issued.

The helicopter, which is owned by King Rotors Air Charters Pvt Limited, and the 101 land parcels in Mumbai's Santa Cruz area are valued at Rs 81.10 crore, according to the ED.

Early this year, the Enforcement Directorate filed a criminal case against the Unitech Group and its promoters under various sections of the PMLA, alleging that the owners — Sanjay Chandra and Ajay Chandra — illegally diverted over Rs 2,000 crore to Cyprus and the Cayman Islands.

After studying some FIRs filed by the Delhi Police's Economic Offences Wing (EOW) against these promoters and the company, including one in which they allegedly failed to complete a housing project on time in Gurgaon, the ED decided to file the case.

After the case was filed, the ED raided 35 locations of the Shivalik Group, Trikar Group, Unitech Group, and Carnoustie Group in Mumbai and the national capital region on March 4.

Two similar orders were previously issued that froze assets worth Rs 349.82 crore, bringing the total attachment in this case to Rs 431 crore.

Image Source

Also read: ED raids TRS Nama Nageswara Rao’s residence in Rs 1,064 cr fraud case

Also read: ED investigates Rs 2,000 cr loan from Piramal Group to Omkar

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..