Unitech Managing Director Sanjay Chandra, who was arrested on late Friday night in relation to a money laundering case by the Economic Offences Wing of the Delhi Police, has been sent to two days police remand. Earlier in the day, police had sought three days remand of Chandra, however, the counsel had opposed the plea for custody, saying the police has already searched the premises of the accused.
According to news agency PTI, Ashu Garg, the metropolitan magistrate has sent the accused persons to two-day police custody after the probe agency said their custodial interrogation was required to find out the alleged money trail and the beneficiaries of the transactions.
“The MD of the real estate firm and another person named Ajay Chandra were arrested for allegedly duping investors. Both of them were accused for not developing a project despite even after receiving funds from investors. The investors has also approached the Delhi High Court in connection with this case,” PTI reported.
PTI quoted one of the police officials who said, “The accused, Ajay Chandra and Sanjya Chandra of Unitech, have been arrested for not developing a project, Anthea Floors, at Gurugram. Ninety-one people have invested Rs 35 crore in the project. The probe into the case is being monitored by a trial court.”