ED arrests builder booked for not giving possession of flats
The ED, through its special public prosecutor Kavita Patil, submitted that Supreme Construction and Developers Pvt Ltd , of which Tekchandani is the director, collected an amount of Rs 423 crore from flat buyers but no possession was given.
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An FIR was registered against Tekchandani for cheating and other charges at Taloja police station in Navi Mumbai by a home buyer. (File Photo)The Enforcement Directorate (ED) Monday arrested builder Lalit Tekchandani in connection with alleged money laundering involving his construction projects. A special court granted Tekchandani’s custody to the agency till March 26.
An FIR was registered against Tekchandani for cheating and other charges at Taloja police station in Navi Mumbai by a home buyer. The complaint said that of the 1,800 persons who invested in a project by Tekchandani, 160 have come forward claiming that they had in total paid Rs 44.25 crore between 2014-2016, for possession of flats in 2017.
The ED, through its special public prosecutor Kavita Patil, submitted that Supreme Construction and Developers Pvt Ltd , of which Tekchandani is the director, collected an amount of Rs 423 crore from flat buyers but no possession was given.
The agency claimed that he had lured gullible flat buyers and siphoned off the money. Tekchandani was in judicial custody after facing arrest in another case. The agency sought his production before the court and arrested him.
Lawyer Taraq Sayyed representing Tekchandani said that all projects undertaken by him are constructed and possession was delayed due to compliance with authorities. Special Judge M G Deshpande said that the ED must be given an opportunity to prove the case, granting the agency his custody till March 26.
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