INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The Enforcement Directorate arrested Supertech chairman R K Arora in a money laundering case late on Tuesday evening
He will be produced before a special court here on Wednesday and the agency will seek his custody for further interrogation
Arora was grilled by the agency multiple times before he was taken into custody.In April, the agency had attached 25 properties of the
Supertech group worth Rs 40 crore, including a mall in Meerut and others in Rudrapur in Uttarakhand
The group is under investigation for alleged laundering of bank loans worth Rs 1,500 crore
The agency had claimed that the Supertech group defaulted on its payments to banks and currently around Rs 1,500 crore of such loans have
Further investigation is in progress.The Supertech group has been facing several cases registered by the police in Delhi, Haryana and UP,
where it was alleged that the company and its directors indulged in criminal conspiracy to cheat people by collecting funds from prospective
buyers as advance against booked flats
The group, however, failed to provide possession of flats on time
These funds were, however, misappropriated and diverted for purchase of land in the name of other group companies that were again pledged as
Supertech group are facing multiple cases
One of them relates to the alleged illegal construction of twin towers in Noida in collusion with corrupt Noida Authority officials that
included a former chairman and CEO of Noida Authority along with six other high-ranking ex-officials of Noida and Greater Noida
Authorities.WatchSupertech chairman RK Arora arrested in money laundering case
