ED attaches London-based hotel worth Rs.58.61 cr in Unitech money laundering case

New Delhi: The Enforcement Directorate (ED) has provisionally attached a London-based hotel, styled as “Bed and Breakfast”, worth Rs 58.61 crore in a money laundering case against Unitech Group.

The property is owned by Ibournshorne Limited, an UK based associate company of Carnoustie Group where Rs 325 crore of the homebuyers of Unitech was diverted.

The ED had initiated money laundering investigation on the basis of various FIRs filed by homebuyers against Unitech Group and its promoters before the Delhi Police.

“Money laundering investigation by the ED has revealed that tainted funds to the tune of  Rs 325 crore belonging to homebuyers were diverted to Carnoustie Group,” the ED said in a statement.

Out of this, Rs 41.3 crore were diverted to the UK



after substantial layering through Carnoustie Group, India and  Indesign Enterprises Pvt. Ltd, Cyprus. These funds were used for purchasing the shares of Ibounshorne Limited, UK in the name of Carnoustie Management India Pvt Limited, an entity belonging to Carnoustie Group, it said.

Earlier, the agency had conducted searches on 38 locations in NCR and Mumbai on the premises of Shivalik Group, Trikar Group, Unitech Group and Carnoustie Group.

Total Proceeds of Crime in the case has been determined at Rs 5,063.05 crore till now. The ED had earlier attached immovable properties to the tune of Rs 537 crore belonging to Trikar Group, Carnoustie Group and Shivalik Group. With this attachment, the total attachment in this case reached to Rs 595.61 crore, it added.