MUMBAI: The special court took cognizance of the chargesheet filed by the Enforcement Directorate (ED) against builder Lalit Tekchandani along with 15 others individual and entities.
The ED initiated money laundering investigation based on two FIRs registered by Taloja Police Station and Chembur Police Station against Tekchandani. It was allege that Supreme Construction & Developer Pvt Ltd(SCDPL), a company controlled by Tekchandani and others, collected Rs. 400 Crore from several homebuyers in a housing project in Taloja, Navi Mumbai.
The home buyers were neither given flats nor the money was returned to them.
During the investigation, the ED found that Tekchandani alienated the properties of SCDPL despite his exit from the ownership and directorship of the company with the assistance of other accused persons. The ED said that the investigation has also revealed that accused persons were transferring the receivables of the Company into the account of associate entity thereby siphoning off the funds.
The ED had arrested Tekchandani in March and he is judicial custody. During his interrogation the ED found that the funds received from the homebuyers were laundered by him for personal gains and creation of assets in various names, including family members. After examining the proceeds of crime, in April the ED had attached properties worth of Rs. 113.5 Crore in the case.
Among the attached properties where included villa at Aamby Valley, various residential and business premises in Mumbai, and land parcels in Raigarh District. The ED has also frozen/seized investments in shares/ mutual funds/ fixed deposits worth Rs. 43 Crore in this case.
Tekchandani, an influential businessman close to many senior politicians and RSS functionaries, had contributed to the construction of a hospital in Nagpur. Recently, he landed in controversy after several flat buyers at his project in Navi Mumbai alleged that he had cheated them.
