In a big and shocking revelation of Unitech Group , the Enforcement Directorate (ED) has filed its third chargesheet against the top bosses of Unitech Group. The agency says these promoters not only misused but also laundered a massive ₹7,794 crore — money that was actually collected from homebuyers to build their homes.
Out of the total ₹16,076 crore that people invested with the hope of getting their dream houses, almost half of it, according to ED, was diverted elsewhere. Instead of using the money to finish homes for nearly 29,800 families, the promoters allegedly routed it through a maze of fake companies and used it to buy personal properties, both in India and in foreign countries.
Who are the key accused in the Unitech Group scam?
The chargesheet, which was filed in a Delhi PMLA court, clearly names the main people behind this alleged scam. It includes Unitech Group ounder, Ramesh Chandra, along with his two sons, Sanjay and Ajay Chandra, and even Ajay’s wife, Preeti Chandra.
Not just them — the ED has also pointed fingers at several companies linked to the family, like:
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Shivalik Ventures
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Auram Asset Management
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Unitech Build Tech
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Unitech Golf Resorts
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Ranchero Services
In total, the investigation has brought 105 people and companies under the scanner for their roles in this massive wrongdoing.
Where did the diverted money go by Unitech Group?
The ED says that a big portion of the money was cleverly moved through fake shell companies in India and then sent off to tax havens like the UAE, Cayman Islands, and Singapore. From there, it was used to buy expensive properties abroad — including, as per the agency, three luxury flats in Dubai that are believed to be owned by Preeti Chandra.
📝 How much property has ED attached so far?
So far, the ED has seized assets worth about ₹1,621.91 crore as part of their investigation. This includes a staggering 1,291 properties that are believed to be linked to the scam.
📅 When did the investigation begin?
The investigation actually began way back in June 2018, when frustrated homebuyers filed complaints with the Delhi Police and the CBI. After that, the ED got involved under the,.ney Laundering Act (PMLA), and since then they’ve been digging deeper and uncovering shocking details one after another.
📉 How does this impact homebuyers?
For almost 30,000 homebuyers, this whole episode has been nothing short of heartbreaking — their hard-earned life savings are stuck in homes that were never built. The ongoing court cases do bring a ray of hope, but honestly, getting their money or homes back could still take years.
⚖️ Why is this case significant?
This has turned out to be one of the biggest real estate scams India has ever seen. It really exposes how weak the regulations in the housing sector are — and how easily the hard-earned money of ordinary people can be misused when there aren’t enough checks and balances in place.
