The Enforcement Directorate (ED) on Monday carried out searches at multiple locations in Mumbai and Navi Mumbai linked to builder Lalit Tekchandani over alleged cheating of prospective homebuyers. Following the searches, the financial probe agency seized Rs 30 crore, comprising bank balances and fixed deposits (FDs).
The ED searches were carried out at multiple locations linked to Tekchandani under the Prevention of Money Laundering Act (PMLA). Notably, the builder was arrested last month for alleged cheating and forgery. The agency has been on the lookout for the proceeds of crime. The ED had initiated the investigation on the basis of 2 FIRs registered at the Taloja police station and Chembur police station.
It is claimed that the company registered in Tekchandani’s name collected huge money from prospective homebuyers in the name of a housing project in Taloja (Navi Mumbai) and then siphoned it off for personal gains and creating assets in the name of relatives. As per agency records, the company M/s Supreme Construction & Developer Pvt Ltd collected funds to the tune of Rs 400 crore from more than 1,700 homebuyers for the housing project and then left them in lurch.
The ED searches also resulted in the seizure of Rs 27.5 lakh cash and incriminating documents, relating to the acquisition of properties in the names of Tekchandani's family members. FDs amounting to Rs 29.73 crore were also unearthed during the searches, which have been frozen with immediate effect. Some digital devices and documentary devices were also impounded.
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