ED Opposes Supertech Chairman's Bail Amid Laundering Case
Real Estate

ED Opposes Supertech Chairman's Bail Amid Laundering Case

In a recent development, Supertech's chairman finds himself entangled in a high-stakes money laundering case, drawing the attention of the Enforcement Directorate (ED).

The ED's strong opposition to the interim bail plea is rooted in the belief that any relief granted at this stage might impede the meticulous investigation into the intricate financial dealings that form the core of the allegations.

The real estate sector is closely monitoring this case, as it unfolds with revelations of complex financial transactions and potential repercussions for the industry.

As Supertech's chairman navigates legal challenges, the ED remains steadfast in its commitment to unraveling the layers of financial impropriety, underscoring the gravity of the situation and its broader implications for the real estate landscape.

In a recent development, Supertech's chairman finds himself entangled in a high-stakes money laundering case, drawing the attention of the Enforcement Directorate (ED). The ED's strong opposition to the interim bail plea is rooted in the belief that any relief granted at this stage might impede the meticulous investigation into the intricate financial dealings that form the core of the allegations. The real estate sector is closely monitoring this case, as it unfolds with revelations of complex financial transactions and potential repercussions for the industry. As Supertech's chairman navigates legal challenges, the ED remains steadfast in its commitment to unraveling the layers of financial impropriety, underscoring the gravity of the situation and its broader implications for the real estate landscape.

Next Story
Technology

We’re building robots that flow, not just move

Founded in 2021, Flo Mobility is reimagining construction automation with vision-AI robots designed for seamless movement through complex sites. In conversation with CW, Manesh Jain, Founder & CEO, discusses the company’s origin, its LiDAR-free tech stack, and expansion plans in the Middle East and US.What inspired the name Flo Mobility? Why ‘Flo’ and not ‘Flow’?When we started the company in 2021, our focus was on building autonomous navigation systems for robots. Since our work centred around robot movement, ‘mobility’ naturally became part of the name. We wanted to co..

Next Story
Real Estate

We’re committed to setting benchmarks in sustainable luxury living

From a landmark land acquisition in Boisar to ambitious launches across the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru and Pune, Birla Estates is driving future-ready growth with a strong focus on sustainability, partnerships and premium living, firmly anchored in its LifeDesigned® philosophy. K T Jithendran, Managing Director & CEO, outlines the company’s premium, sustainable growth playbook in conversation with PRATAP PADODE, Editor-in-Chief, CW. Excerpts:Birla Estates recently acquired a 70.92-acre land parcel in Boisar, Maharashtra, for..

Next Story
Infrastructure Urban

Mumbai’s land crunch and ageing homes call for structured renewal

Founded in 2022, Etonhurst Capital Partners is a real-estate fund management platform focused on the Indian market. As the firm achieves the first close of Rs 1.8 billion for its debut Rs 5 billion fund, Bamasish Paul, Co-founder, Managing Partner & CEO, discusses its sharp focus on redevelopment-driven value creation in Mumbai’s urban core with CW. Excerpts:Etonhurst Capital has achieved a significant milestone with the first close of Rs 1.8 billion for its Rs 5 billion fund. What factors contributed to this early success and how do you plan to attract further investments to r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?