Realty major DLF’s premises in Gurugram have been searched by the Enforcement Directorate (ED) as part of a money laundering investigation into Supertech and its promoters. The central agency has recovered some documents during the operation conducted in the past few days. The ED’s probe against Supertech led them to DLF’s doorstep, according to sources. DLF has not yet responded to the email sent by news agency PTI. In June, the ED had arrested Supertech promoter RK Arora, accusing him of diverting funds of investors and homebuyers to shell companies. The money laundering case, filed under the Prevention of Money Laundering Act (PMLA), is based on 26 FIRs registered by police departments against Supertech and its group companies. The allegations include cheating 670 homebuyers for Rs 164 crore, siphoning off Rs 440 crore, and not completing promised projects in Noida. Supertech, established in 1988, has delivered around 80,000 apartments and is currently developing 25 projects in the NCR region. However, it is yet to hand over possession to more than 20,000 customers. The company faced setbacks when its twin towers in Noida were demolished due to violation of norms, resulting in a loss of about Rs 500 crore. It also faced insolvency proceedings over non-payment of dues.
Report: Supertech Money Laundering Investigation Takes Probe Team to DLF’s Doorstep
