Unitech Case : Supreme Court Issues Notice On ED’s Plea Challenging Bail Granted By Delhi High Court To Preeti Chandra

The Supreme Court, on Friday, issued notice in the plea filed by the Directorate of Enforcement assailing the order of the Delhi High Court whereby bail was granted to Preeti Chandra, the wife of Unitech promoter Sanjay Chandra, in a money laundering case.

At the outset, the Additional Solicitor General, Sanjay Jain, appearing for the ED, apprised a vacation Bench comprising Justice Hima Kohli and Justice Rajesh Bindal that the High Court had kept the bail order passed on 14th June, 2023 in abeyance till Friday (16th June, 2023) as it was informed that ED would file an appeal before the Apex Court.

The Bench issued notice in the plea, essentially, seeking cancellation of the bail order, and stayed the operation of the impugned order till further orders of the Apex Court. Chandra was asked to file her response within a period of two weeks; the ED was asked to file its rejoinder within two weeks thereafter. The matter was directed to be listed after 4 weeks.

At the request of Senior Counsel appearing on behalf of Chandra, the Bench granted liberty to her to apply for temporary bail on health grounds before the competent court, which, it directed, would be considered in accordance with law, uninfluenced by the pendency of the present case.

Chandra was denied bail by the trial court in November last year taking note of the ‘enormity of the transactions and seriousness of the allegations’.

The money laundering case was filed after FIRs were filed by Delhi Police and Central Bureau of Investigation on the basis of complaints from homebuyers against the Unitech Group and its promoters.

The ED had filed a PMLA case in the year 2021 against Unitech Group and its promoters over allegations that the owners namely Sanjay and Ajay Chandra illegally diverted more than Rs. 2,000 crore to Cyprus and the Cayman Islands. Chargesheet has been filed in the case by the ED.

The probe agency alleged that the funds collected from homebuyers for housing projects were not utilised for the intended purpose and the accused persons committed money laundering.

The ED also alleged that Preeti Chandra received proceeds of crime amounting to Rs. 107 crores in her company ‘Prakausli Investments Private Limited’ but did not disclose the ultimate usage of the amount in question.

[Case Title: Directorate of Enforcement v. Preeti Chandra Diary No. 24358/2023]

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