Overview

• The Enforcement Directorate filed its second supplementary prosecution complaint under the Prevention of Money Laundering Act, raising the total accused in the Unitech case to 105.
• The filing targets promoter Ramesh Chandra and entities such as Shivalik Ventures Pvt. Ltd., Auram Asset Management Pvt. Ltd., Unitech Build Tech Ltd., Unitech Golf Resorts Ltd. and Ranchero Services Ltd.
• Of the ₹16,075.89 crore collected from homebuyers and financial institutions, the ED says ₹7,794.35 crore was diverted from sanctioned housing projects.
• Forensic evidence uncovered a systematic laundering scheme with five primary methods, including inflated share purchases, misuse of venture capital funds, cross-border fund layering, benami asset acquisitions and intra-group diversions.
• As part of its asset-recovery drive, the ED provisionally attached ₹1,621.91 crore in illicit proceeds and 1,291 properties through 21 orders confirmed by the adjudicating authority.