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Unitech MD Sanjay Chandra, 2 others arrested by Delhi Police

India Today logo India Today 01-04-2017

Unitech MD Sanjay Chandra has been arrested in connection with siphoning of money in foreign accounts. Delhi Police will produce Sanjay Chandra in court today.

The economic offence wing (EOW) of the Delhi Police has arrested Unitech Managing Director and two others in connection of financial irregularities.

Sanjay Chandra faces the charge of illegally divesting the fund of one project into a different company.

Sanjay Chandra allegedly got the money invested in the other company siphoned off to foreign accounts.

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Sanjay Chandra will be produced in the Patiala House Court of Delhi.

Real estate major Unitech Limited top boss had earlier been arrested January last year on the charges of cheating and had to spend a night in the Tihar jail before he got an interim bail.

Back then a case was filed against Unitech Ltd chairman Ramesh Chandra, managing directors Sanjay Chandra and Ajay Chandra and director Minoti Bahri by chartered accountant Sanjay Kalra and his business partner Devesh Wadhwa.

Kalra and Wadhwa had had booked a property in Habitat Apartments in Greater Noida developed by Unitech. The project was delayed but the company had alleged refused to refund the amount, as promised with 11 per cent per annum interest.

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