NEW DELHI: The Delhi High Court on Wednesday granted bail to Preeti Chandra, Unitech promoter Sanjay Chandra’s wife, in a multi-crore money laundering case being probed by the Enforcement Directorate (ED).
A vacation bench of Justice Jasmeet Singh, however, said the order will not take effect till June 16, after the federal agency sought time to challenge the order. “Bail application is allowed. Mr (Zoheb) Hossain appearing for ED states that the order pronounced today may not be given effect up to Friday.
At this request, the order is not given effect till June 16,” the judge ordered. The ED had registered the present case in 2018 under various sections of the Prevention of Money Laundering Act against the Unitech Group and its promoters over allegations that the owners — Sanjay Chandra and Ajay Chandra — illegally diverted over Rs 2,000 crore to Cyprus and the Cayman Islands.
Preeti Chandra had filed the bail plea before the court last year, saying she was a fashion designer and philanthropist, who has been in custody since October 4, 2021, and there were no proceeds of crime relatable to her.
The money laundering case arose from a number of Delhi Police and CBI FIRs filed by home buyers against the Unitech Group and its promoters. A charge sheet has already been filed before the trial court. It is alleged that funds collected from home buyers for housing projects were not utilised for their intended purpose and that the buyers were cheated and the accused committed the offence of money laundering.
