New Delhi [India], June 6 (ANI): The Patiala House Court of Delhi granted regular bail to Supertech’s chairman and promoter, RK Arora, in a money laundering case. Arora was arrested in June last year in relation to Rs 700 crore money laundering case.
The Additional Sessions Judge Devender Kumar Jangala granted him bail on Rs one lakh personal bond and two like amount surety.
The case was argued by Advocate Tanveer Ahmed Mir, Advocate Yash Dutt, Advocate Kartik Venu, Advocate Shashwat Sarin, Advocate Aaraiana Ahluwalia, and Advocate Vaibhav Suri.
According to the Enforcement Directorate, 26 FIRs were registered by the Economic Offences Wing (EOW), Delhi Police; Haryana Police and UP Police against Supertech Limited and its group companies under Section 120B (criminal conspiracy) read with 406 (criminal breach of trust)/420 (cheating)/467/471 IPC having allegations of cheating at least 670 home buyers for an amount of Rs 164 crore.
ED also alleged that the amount collected by Supertech Ltd was diverted to their group companies for the purchase of properties, with the company with land having much lesser value.
ED alleged that the accused persons have acquired properties and made illegal/wrongful gain arising out of the said proceeds of crime by involving, indulging and commissioning criminal activities related to scheduled offences.
It is stated that the prima facie case for the commission of an offence punishable under Section 3 punishable under Section 4 of the PMLA Act has been made. (ANI)
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