SC stays Delhi HC order on granting bail to ex-Unitech promoter Sanjay Chandra's wife

It was alleged that money that was paid by homebuyers to Unitech Group was not used for the intended purpose. Also, allegations of money laundering were leveled against the promoters.

New Delhi:Supreme Court on Friday stayed a Delhi High Court's order granting bail to former Unitech promoter Sanjay Chandra's wife Preeti Chandra in connection to a money laundering case probed by the Enforcement Directorate (ED). A notice in this regard has been issued to Preeti Chandra by the apex court today.

After the Delhi High Court's June 14 order, the ED had moved the Supreme Court challenging the judgement. Also, it had urged that the order is not given effect till June 16. The Supreme Court heard the plea and then issued a stay order on the Delhi High Court's judgement.

In November, the trial court had denied bail to Preeti Chandra in view of the "enormity of the transactions" and "seriousness of allegations". Preeti Chandra was brought under the scanner of investigating agencies after homebuyers complained against Unitech Group and its promoters. It was alleged that money that was paid by homebuyers was not used for the specific purpose and the accused allegedly committed money laundering.

The Delhi Police and the Central Bureau of Investigation (CBI) filed FIRs against Preeti Chandra on charges of money laundering. ED alleged that she received Rs 107 crore as proceeds of crime in her company but did not disclose how it was utilised.

Earlier, in 2021, ED had filed a case against the Unitech Group and its promoters under the Prevention of Money Laundering Act (PMLA). It was alleged that funds amounting to Rs 2,000 crore was illegally diverted by the Unitech owners, Sanjay and Ajay Chandra to Cyprus and Cayman Islands.