Unitech MD Sanjay Chandra arrested in connection with financial irregularities

Unitech Managing Director and two others were arrested in connection with financial irregularities on Saturday.

New Delhi: Unitech Managing Director Sanjay Chandra and two others were arrested in connection with financial irregularities on Saturday.

The Chandras were booked for cheating buyers as Unitech failed to complete a project in Gurugram`s Sector 70 on time and also did not refund the money along with the interest.

"A team of the EOW went to Gurugram on Friday night and raided the residence of Sanjay Chandra and Ajay Chandra. The team arrested them for money laundering of around Rs 35 crore," said Delhi Police spokesperson Madhur Verma.

He added that there were 91 complaints against the Chandra brothers in connection with the Gurugram project for which valid permission from the competent authority was not taken.

Both would be presented before a Delhi court for remand proceedings on Saturday afternoon.

With IANS Inputs