In a major crackdown on financial irregularities, the Enforcement Directorate (ED) has attached assets worth a staggering ₹335 crore belonging to the Unitech Group. This action is a direct result of ongoing investigations into a money laundering case involving the real estate conglomerate.
The ED’s probe into the Unitech Group was initiated based on a complaint filed by the Bank of Baroda. The investigation revealed a complex web of financial transactions that allegedly siphoned off funds from the group’s various projects. The ED’s probe has uncovered evidence suggesting that the diverted funds were used to acquire properties, invest in other businesses, and even fund luxurious lifestyles.
The attached assets include properties, bank accounts, and other financial instruments linked to the Unitech Group and its promoters. The ED’s action sends a strong message to those involved in financial crimes, underscoring the agency’s commitment to bringing perpetrators to justice and recovering illicitly acquired wealth.
This development comes at a time when the Unitech Group is already facing multiple legal challenges, including a long-running dispute with homebuyers who have been waiting for their apartments for years. The ED’s investigation further tarnishes the reputation of the group and raises questions about its financial practices.
The seizure of assets by the ED is a significant step in the ongoing investigation. However, it remains to be seen whether the agency will be able to recover the full amount of the alleged money laundering proceeds. The case is likely to have a prolonged legal battle, with the Unitech Group likely to challenge the ED’s actions in court.
