Upgraded 30 May 2026 at 05:55 IST
ED provisionally connected Rs 634.12 crore in Unitech Golf & & Country Club possessions worth Rs 8115 crore, declaring Rs 7794 crore of Rs 16,075 crore property buyer funds were diverted as the probe based upon 76 FIRs continues.
New Delhi: The Enforcement Directorate has actually provisionally connected homes worth Rs 634.12 crore connected to the Unitech Golf & Country Club job in Noida under the Prevention of Money Laundering Act, the firm stated on Thursday.
According to an ED news release, the Headquarters Investigation Unit provided a Provisional Attachment Order on Wednesday, covering leasehold rights over roughly 347.83 acres of land in Sectors 96, 97 and 98, Noida, and equity shareholdings held through consortium/Special Purpose Company structures including Sungrace Products (India) Pvt. Ltd. of Uflex Group and CIG Infrastructure Pvt. Ltd.
The ED stated the connected residential or commercial properties represent profits of criminal offense created through the diversion of funds of property buyers and banks. Today reasonable market price of the connected residential or commercial properties in the UGCC job is Rs 8,115 crore.
The ED started its examination based upon 76 FIRs signed up by Delhi Police and CBI versus Unitech Limited, its promoters/directors and others under numerous areas of IPC, 1860 and the Prevention of Corruption Act, 1988, associating with unfaithful, criminal conspiracy and diversion of property buyers’ funds.
Examination exposed that out of Rs 16,075.89 crore gotten by Unitech Limited from property buyers, financiers and banks, funds totaling up to Rs 7,794.35 crore were diverted for non-mandated functions, the company specified.
ED even more discovered that Sungrace Products (India) Pvt. Ltd. and CIG Infrastructure Pvt. Ltd. obtained and continued to maintain considerable financial interest in the UGCC job without matching monetary contribution towards acquisition or advancement of the job.
Far, ED has actually connected 1,296 movable and unmovable residential or commercial properties having an overall worth of Rs 2,281.07 crore in the Unitech matter. One primary prosecution grievance and 2 supplemental prosecution grievances have actually currently been submitted before the Special PMLA Court in Delhi.
The ED stated it stays dedicated to protecting and reimbursing the profits of criminal offense to innocent victims of monetary criminal offense and legal complaintants in a transparent and expeditious way.
Additional examination is underway.