The Supreme Court on Thursday allowed ex-Unitech promoter Ramesh Chandra to request bail from a special court hearing the money laundering case filed against the real estate giant and its promoters, including Mr Chandra and his sons Sanjay and Ajay, by the Enforcement Directorate.
The court also allowed his sons – who are accused of illegally siphoning home buyers’ payments and have been in jail since August 2017 – to have virtual meetings every fortnight.
The Enforcement Directorate, meanwhile, told the court that it will file its chargesheet against Ajay and Sanjay Chandra next week. The probe agency had sought the court’s approval to reply on the report of forensic auditors to prepare the charge sheet, saying that it would make its case stronger.
Sanjay Chandra and his older brother, Ajay Chandra, are former owners of Unitech, which was a real estate giant for several years. The brothers were arrested in 2017 for failing to build houses for which they had collected hundreds of crores of rupees.
Ramesh Chandra was arrested in October, as were Sanjay Chandra’s wife Preeti Chandra and an executive – Rajesh Malik of the Carnoustie group.
The Enforcement Directorate filed a criminal case under the Prevention of Money Laundering Act, or PMLA, last year against Unitech and its promoters, alleging that the Chandra brothers illegally diverted over Rs 2,000 crore of depositors funds to banks in Cyprus and the Cayman Islands.
The agency has attached properties worth Rs 690 crore in this case so far.