SC seeks update on ED action in Unitech money laundering case
New Delhi, May 8 -- The Supreme Court has turned its attention once again to the long-running Unitech saga, this time asking the Enforcement Directorate (ED) to place before it a clear picture of where the money laundering prosecution against former promoters Sanjay Chandra and Ajay Chandra stands, and what concrete steps have been taken to recover thousands of crores allegedly transferred from the real estate company even as thousands of homebuyers continue to wait for homes and refunds.
At the same time, the court moved to ease the plight of fixed deposit (FD) holders and vulnerable investors, paving the way for release of deposits belonging to deceased investors, senior citizens above the age of 60, and more than 24,000 small FD holders ...
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