New Delhi: A Delhi court on Friday said that it will consider on September 25 whether to take cognisance of a charge sheet against Supertech Group Chairman R.K. Arora in connection with a case under the Prevention of Money Laundering Act (PMLA) by the Enforcement Directorate (ED).
The matter was listed for Friday for consideration, but Special Judge Devender Kumar Jangala said that he needs time to go through the lengthy documents.
The probe agency had, on August 24, filed the charge sheet against Arora and eight others in the matter. Arora was arrested on June 27 after the ED re-attached properties worth Rs 40 crore belonging to him in this matter.
The accused have been accused of defrauding at least 670 homebuyers of Rs 164 crore.
Appearing for the agency, Special Public P+rosecutor N.K. Matta had earlier apprised the court that the company and its directors had indulged in a criminal conspiracy to cheat people by collecting funds from prospective home buyers as advance against flats booked in real estate projects.
He had said the firm failed to adhere to the agreed obligation of providing possession of the flats on time and ended up defrauding the general public.
The money laundering case stems from a bunch of FIRs registered by the police in Delhi, Haryana, and Uttar Pradesh. It is alleged that money collected through real estate business was invested in several firms through money laundering, as the funds from the home buyers were later transferred to several accounts of firms involved in other businesses.
Arora couldn’t provide satisfactory answers, which led to his arrest.
About a month ago, the Dadri administration in Greater Noida had 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 (NPAs).