Supertech Chairman Granted Bail in Case

07 Jun 2024 CW Team

Arora was arrested by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA). The agency alleged that he was involved in diverting funds collected from homebuyers and using them for other purposes, thereby defrauding numerous investors. The arrest was part of a broader investigation into the financial practices of Supertech and its associated entities.

The bail was granted after Arora's legal team argued that the allegations were based on misconstrued facts and that there was no substantial evidence linking him directly to the alleged laundering activities. They contended that Arora had fully cooperated with the investigation and that his detention was unwarranted. The court, after considering these arguments, decided to release him on bail with certain conditions, including the surrender of his passport and regular attendance at the ED's office.

This ruling has come as a relief to Supertech, which has been facing financial troubles and a crisis of confidence among its stakeholders. The company has been working on restructuring its operations and addressing the grievances of homebuyers to regain trust and ensure the completion of its pending projects.

Supertech's legal woes have had a significant impact on the real estate market, highlighting the need for greater transparency and regulatory oversight. The case has also drawn attention to the plight of homebuyers who have been left in the lurch due to delays and financial mismanagement by real estate developers.

As the legal proceedings continue, stakeholders in the real estate sector will be closely monitoring the developments. The outcome of this case could set a precedent for future regulatory actions and influence the operational dynamics of real estate firms in India.

In a significant legal development, Delhi's Patiala House Court has granted bail to Supertech's Chairman, R K Arora, in a high-profile money laundering case. Arora was accused of engaging in financial irregularities and misappropriating funds related to the real estate projects undertaken by the company. Arora was arrested by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA). The agency alleged that he was involved in diverting funds collected from homebuyers and using them for other purposes, thereby defrauding numerous investors. The arrest was part of a broader investigation into the financial practices of Supertech and its associated entities. The bail was granted after Arora's legal team argued that the allegations were based on misconstrued facts and that there was no substantial evidence linking him directly to the alleged laundering activities. They contended that Arora had fully cooperated with the investigation and that his detention was unwarranted. The court, after considering these arguments, decided to release him on bail with certain conditions, including the surrender of his passport and regular attendance at the ED's office. This ruling has come as a relief to Supertech, which has been facing financial troubles and a crisis of confidence among its stakeholders. The company has been working on restructuring its operations and addressing the grievances of homebuyers to regain trust and ensure the completion of its pending projects. Supertech's legal woes have had a significant impact on the real estate market, highlighting the need for greater transparency and regulatory oversight. The case has also drawn attention to the plight of homebuyers who have been left in the lurch due to delays and financial mismanagement by real estate developers. As the legal proceedings continue, stakeholders in the real estate sector will be closely monitoring the developments. The outcome of this case could set a precedent for future regulatory actions and influence the operational dynamics of real estate firms in India.

Infrastructure Urban

16 Oct 2025

Shivraj Singh Chouhan inaugurates ICAR-IIMR admin block in Ludhiana

Union Agriculture Minister Shri Shivraj Singh Chouhan recently inaugurated the administrative building at the Indian Council of Agricultural Research – Indian Institute of Maize Research (ICAR-IIMR) in Ludhiana, Punjab. During the visit, he interacted with maize stakeholders, farmers, rural development scheme beneficiaries, and women self-help group (SHG) members. He said that under the leadership of Prime Minister Narendra Modi, the government’s key goals include boosting foodgrain production, reducing input costs, and improving farmers’ incomes. He highlighted the importance of div..

Technology

16 Oct 2025

Google to Build Rs 10,000 Cr Data Centre in Visakhapatnam

In a major boost to India’s digital infrastructure, Google will establish a 1-GW hyperscale data centre and Artificial Intelligence (AI) hub in Visakhapatnam, Andhra Pradesh. The project, valued at Rs 100 billion, is expected to significantly contribute to the state’s economy and create more than 20,000 direct and indirect employment opportunities. Union Minister of State for External Affairs and Education, Dr Pemmasani Chandrasekhar, highlighted that this landmark investment by Google will help position Andhra Pradesh as a prominent digital hub under the “Swarandhra Pradesh” vision. ..

Infrastructure Urban

16 Oct 2025

TCIL honoured with HR Excellence Award 2025

Telecommunications Consultants India Limited (TCIL), a Miniratna Schedule ‘A’ PSU under the Department of Telecommunications, has been honoured with the HR Excellence Award at the Fortune Leadership Awards 2025, held at Radisson Blu Plaza, Delhi. The accolade acknowledges TCIL’s outstanding HR practices promoting employee development, innovation, and inclusivity. The award was presented by Dr. Dinesh Upadhyay, Former Member, Ministry of AYUSH, and Shri M. S. Nethrapal, IRS, and received by Shri P. Suresh Babu, CGM (HR), in the presence of distinguished leaders from various sectors. Bet..