SC Sends Notice To Ex-Unitech Promoter's Wife Preeti Chandra, Stays Delhi HC Bail Order

The Supreme Court served notice to Preeti Chandra, wife of former Unitech promoter Sanjay Chandra in a plea by ED challenging bail granted by Delhi High Court.

Preeti Chandra, wife of Sanjay Chandra was arrested by the Enforcement Directorate in 2021 under the Unitech money laundering case.

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The Supreme Court on Friday served a notice to the wife of former Unitech promoter Sanjay Chandra, Preeti Chandra, in a plea filed by the Enforcement Directorate (ED), reported ANI. The plea challenged the bail granted to Preeti Chandra by the Delhi High Court on Wednesday. A bench consisting of Justices Hima Kohli and Rajesh Bindal put an interim stay on the bail order.

The Delhi High Court on Wednesday granted bail to Preeti Chandra in a 2018 money laundering case. 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.

According to the report, the apex court's vacation bench temporarily halted the implementation of the Delhi High Court's decision to grant bail to Preeti Chandra. Additionally, the Supreme Court requested Preeti Chandra to file a reply to the plea filed by the ED that challenges the Delhi High Court's decision. 

In 2018, the Enforcement Directorate (ED) registered a case under the Prevention of Money Laundering Act against the Unitech Group and its promoters, Sanjay Chandra and Ajay Chandra. The case alleged that the owners illegally diverted over Rs 2,000 crore to Cyprus and the Cayman Islands. Both Sanjay and Ajay, are in jail since August 2017. 

 

Preeti Chandra, wife of Sanjay Chandra was arrested by the Enforcement Directorate in 2021 under the Unitech money laundering case. The agency claimed she was “involved in laundering and layering of funds deposited by home buyers”.

 

Chanbra later filed a bail plea last year, stating that she was a fashion designer and philanthropist with no involvement in proceeds of crime. The money laundering case originated from several FIRs filed by home buyers against the Unitech Group and its promoters, accusing them of cheating and diverting funds collected for housing projects.

 

 

A charge sheet has already been filed in the trial court. The prosecution alleges that Preeti Chandra received Rs 107 crore from her company, Prakausli Investments Pvt. Ltd., but failed to disclose the utilisation of the money. Despite her bail plea, the trial court denied her bail on November 7, 2022, citing the gravity of the allegations and the magnitude of the transactions.

 

The Delhi High Court on Wednesday granted bail to Preeti Chandra. Justice Jasmeet Singh, as per PTI, said the order will not take effect till June 16, after the Enforcement Directorate 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 to upto Friday. At this request, the order be not given effect till June 16," the judge ordered.