Unitech case: London hotel worth Rs 58.61 cr attached

New Delhi, July 30

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The ED on Friday said it had attached a London hotel worth Rs 58.61 crore in connection with a money laundering probe against realty firm Unitech Group and its promoters Sanjay Chandra and Ajay Chandra.

Officials in the agency said the hotel named, Bed and Breakfast, was owned by a company called Ibournshorne Limited, a UK-based associate firm of the Carnoustie group.

They said the case was based on a number of Delhi Police’s Economic Offences Wing FIRs, which were filed by homebuyers against the Unitech Group and its promoters. Later in a statement, the ED claimed that “tainted funds of Rs 325 crore belonging to homebuyers were diverted to Carnoustie Group”.

It further said, “Out of this, Rs 41.3 crore was diverted to the UK.” The ED said these funds were “used for buying shares of Ibounshorne Ltd, UK in the name of Carnoustie Management India Pvt Ltd, which belonged to Carnoustie Group”. — TNS