Supertech's Chairman, R K Arora, Got Arrested in a Money Laundering Case

The Enforcement Directorate arrested the chairman and owner of Supertech, R K Arora, on Tuesday evening, in a money laundering case. The agency is looking for his custody for interrogation.

The FIRs have been registered by the police departments of Uttar Pradesh, Delhi and Haryana against Supertech's Directors, promoters and the group itself. On Tuesday (27th June), the chairman of the Supertech group, R K Arora, was arrested and taken into custody under the Prevention of Money Laundering Act (PMLA). Before taking him into custody, he was questioned a lot many times by the agency.

Today (Wednesday, 28th June), R K Arora is expected to be presented before PMLA, and ED will seek his further custody.

25 properties, including malls in Meerut and Uttrakhand of Supertech Group, costing Rs. 40 Crore, were attached by the agency in April. Now, the Supertech group is under investigation for money laundering of approximately Rs. 1,500 Crore.

After the investigation, it was revealed that the company collected several kinds of funds from property buyers. They also took different-term loans from many banks and financial institutions by telling them they must construct several projects and flats.

The police of Haryana, Delhi, and Uttar Pradesh have registered many claims against Supertech Group for being involved in cheating cases and collecting funds from people under the name of advance property booking. And in the end, they failed to provide the property to the owners even after collecting lots of funds!