ED seizes Gurugram plots valued Rs 2.45 billion

29 Mar 2023 CW Team

In connection with a money laundering investigation into real estate company Unitech and its promoters, the Enforcement Directorate (ED) announced that it has seized "possession" of 15 land parcels in Gurugram, Haryana, valued at Rs 2.45 billion. Trikar Group, a Unitech benami firm, owns the lands.

The ED had previously attached these immovable assets in accordance with the Prevention of Money Laundering Act (PMLA), and after the Adjudicating Authority of the PMLA approved the attachment, the agency has now seized "physical possession" of these land parcels, according to the statement.

Several FIRs filed by the Delhi Police's economic offences department (EOW) led to the money laundering case against the Unitech group, its promoter brothers, Sanjay and Ajay Chandra, and members of their family.

The Chandra brothers, Ramesh Chandra (their father and the founder of Unitech), Preeti Chandra (the wife of Sanjay Chandra), and Rajesh Malik (the promoter of the defendant company Carnoustie group) had all been detained by the agency in this case. In this case, the ED carried out up to 45 searches in addition to seizing assets worth a total of Rs 11.32 billion, filing two chargesheets, and attaching those assets.

Also read:
How to be energy-efficient in roofing and cladding
A Tale of Two Cities in a global village

Infrastructure Urban

22 May 2025

ClickPost Launches Atlas to Benchmark E-commerce Logistics

ClickPost, a leading logistics intelligence platform, has launched Atlas, a subscription-based benchmarking tool designed to transform how e-commerce brands strategise logistics. Powered by ClickPost鈥檚 proprietary network, which processes over 50 million shipments each month, Atlas enables brands to benchmark key operational metrics in real time against industry peers and standards.Unlike traditional dashboards, Atlas delivers comparative insights鈥攆rom fulfilment speeds, RTO rates and average order values to city-level delivery times and sales data鈥攁llowing brands to identify operational..

Real Estate

22 May 2025

Kalyani Launches Two New LivingTree Towers in Bengaluru

Bengaluru-based Kalyani Developers has announced the launch of Towers 3 and 4 at its flagship residential project, Kalyani LivingTree, located in KIADB Aerospace Park. The expansion adds 525 premium 3BHK apartments, ranging from 1300 to 1600 sq ft, and over 7.5 lakh sq ft of built-up area. Prices start from Rs 1.2 crore.These towers, the most exclusive in Phase 1, offer uninterrupted pool and landscape views, and access to over 60 lifestyle amenities, two clubhouses totalling 1 lakh sq ft, and more than 80 per cent open space.LivingTree spans 25 acres and will comprise ten towers of 23鈥�24 fl..

Infrastructure Urban

22 May 2025

Blue Water Logistics IPO opens May 27

Hyderabad-based Blue Water Logistics is launching its Rs 40.5 crore IPO on May 27, 2025, which will remain open for subscription until May 29. The price band has been set at Rs 132 to Rs 135 per share, with a lot size of 1,000 shares. This is a book-built issue entirely comprising a fresh issue of 30 lakh equity shares. The IPO will be listed on the NSE Emerge platform.Smart Horizon Capital Advisors is the sole book-running lead manager, while Maashitla Securities will act as the registrar. The anchor book will open on May 26, 2025. The IPO allocates 8,35,000 shares to anchor investors, 1,56,0..