The Enforcement Directorate (ED) has questioned Unitech promoters Ramesh Chandra and Sanjay Chandra for alleged irregular transfer of funds to the company, according to news reports. These funds originated from a series of subsidiaries in several countries including Libya and Cyprus.
The operator is currently being investigated under the Prevention of Money Laundering Act, according to an ED spokesperson, who added that Unitech had subsidiaries in Cyprus, Isle of Man, British Virgin Islands, Mauritius and Channel Islands and countries such as Libya and the UAE. Investigators have written to all these countries seeking details of all these transactions.
