ED attaches Unitech’s land worth over `125-cr

New Delhi: The Enforcement Directorate has provisionally attached land worth Rs 125.06 crore belonging to Unitech Infopark Limited in connection with its probe into money laundering allegations arising out of complaints from home buyers of the Unitech group, officials said Monday.

The ED has provisionally attached 39.83 per cent share of 4.79 acres of land that forms part of the Uniworld City township at Nallambakkam in Chennai. “The value of the land attached is Rs 125.06 crore. The said land is owned by Unitech Infopark Limited in which 39.83 per cent shares are held by Narnil Infosolutions Private Limited (a benami company of the Chandras, the promoters of Unitech Group),” the ED said in a statement. The action is part of an investigation undertaken by the ED based on cases registered by the Delhi Police and CBI on the complaints from home buyers against Unitech Group, its promoters and others, it said.

In its investigation, ED detected that the Chandras of Unitech had allegedly invested the proceeds of crime to the tune of $1.50 crore (present value Rs 125.06 crore) through Narnil Infosolutions Private Limited into Unitech Infopark Limited in 2009-10 by acquiring 39.83 per cent shares of the said company, it said. The findings of the probe suggest that Narnil Infosolutions Private Limited is beneficially owned by the Chandras and was being controlled through their associates.