ED arrests real estate firm Supertech Group Chairman R K Arora in money laundering case

Arora will be produced before the Rouse Avenue Courts, where the ED will seek his custodial remand

June 28, 2023

Big ED crackdown! Supertech owner and promoter R K Arora arrested – ‘Company, its directors indulged in criminal conspiracy’

The Enforcement Directorate (ED) has arrested Supertech Group Chairman R K Arora, in a money laundering case. Arora was taken into custody under the criminal sections of the Prevention of Money Laundering Act (PMLA), following a third round of his questioning.

The ED had recently attached properties worth Rs,40 crore belonging to Arora in this matter.

On the basis of FIRs by the police departments in Delhi, Haryana, and Uttar Pradesh, the money laundering case against the Supertech Group, its directors, and promoters has been registered.

An ED source said, “He had been coming to the ED’s headquarters for three consecutive days. On Tuesday, we finally placed him under arrest. Arora will be produced before the Rouse Avenue Courts on Wednesday, where the ED will seek his custodial remand.”

The sources said that money collected through the real-estate business was invested in several firms through money laundering. It has been alleged that money was collected from the home buyers and later transferred to several accounts of firms involved in other businesses.

“This way, the home buyers were cheated,” the source said.

The source added that Arora couldn’t provide satisfactory answers, leading to his arrest. Reportedly, Arora’s family was informed about his arrest via a phone call.

About a month ago, the Dadri administration in Greater Noida issued a notice against Arora and Supertech, asking them to repay a total of Rs.37 crore. After the notice was served, Arora was detained at the local DM office but was released later.

According to sources, several FIRs have been filed against Arora and Supertech. They also took loans from banks, and their accounts reportedly turned into non-performing assets (NPA).

[With Inputs from IANS]

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