India

Patiala Court Grants Bail To Unitech’s former Promoters In Money Laundering Case

Former Unitech promoters Sanjay and Ajay Chandra secured bail from the Patiala House Court in a money laundering case. The court cited their prolonged incarceration of two and a half years without trial. Patiala court emphasized that further pre-trial detention should not be punitive.

A total of 71 individuals have been implicated in the case by the ED, with 121 witnesses. The court clarified that trial proceedings can continue even with the Chandras on bail. The Patiala court further said the purpose of pre-trial detention should not be punitive.

The co-accused, Preeti Chandra and Rajesh Malik, also obtained bail after 18 months in jail. The ED’s prosecution, under various sections of PMLA, targets 17 accused, including 14 companies and three individuals.

The Chandras were arrested by the ED for allegedly misappropriating funds from homebuyers. Despite the Supreme Court’s order to deposit Rs 750 crore, they failed to comply, leading to the denial of bail earlier. A forensic audit revealed Unitech collected Rs 14,270 crore from 29,800 homebuyers, with Rs 13,364 crore traced in bank statements, mainly between 2006 and 2014.

Shibra Arshad

Recent Posts

Hina Khan Hails 11 Years Of PM Modi’s Leadership; Highlights National Progress

As the nation marks 11 years under PM Modi's leadership, actress Hina Khan shares her…

1 hour ago

Subhash Ghai Hails PM Modi’s Transformative Vision For India

Subhash Ghai has praised PM Narendra Modi’s leadership for catalysing India’s growth and changing the…

2 hours ago

India & Central Asia Boost Rare Earth Cooperation At Delhi Meet

India and five Central Asian nations have agreed to deepen cooperation on rare earths and…

2 hours ago

PM Modi’s Beej Se Bazaar Tak Vision Reshapes Indian Agriculture

Prime Minister Modi has redefined Indian agriculture with the ‘Beej Se Bazaar Tak’ vision, transforming…

3 hours ago

EV Sales Cross 4% Mark In May; Signalling Steady Shift To Green Mobility

EV sales topped 4% of passenger vehicle retail in May 2025, signalling growing demand for…

3 hours ago

Self-Reliant Defence Industry Marks India’s Strategic Security Ascent

One year into Modi 3.0, reforms have reduced poverty, strengthened defence, and accelerated the digital…

3 hours ago