ED: Jailed Unitech Promoter’s Wife Had Association with a Host of Cos

The Enforcement Directorate (ED) has claimed that Preeti Chandra, the wife of jailed Unitech promoter Sanjay Chandra, did not divulge details of her directorship with a host of companies, transfer of funds into her personal accounts, and purchase of houses and a car, according to people with direct knowledge of the agency’s probe into a money-laundering case against her.

The ED has alleged that earlier this year, when Preeti Chandra was questioned a few times and asked about details of her association with companies and other financial transactions, she claimed to be associated with only four companies. However, the agency said, its probe revealed that in addition to these four, she was a director/proprietor of nine other companies.

The ED, which last month arrested Preeti Chandra in connected with alleged money laundering linked to Unitech, informed a local court that she did not provide any details of business activities of the nine companies, or those of other directors of companies, their board meetings and decisions or financial transactions.

The nine companies listed by the ED including Mayfair Investment Pvt Ltd, Mayfair Capital Pvt Ltd, Unitech Chandra Foundation, Tulip Investments Pvt Ltd, FNM Property Services Pvt Ltd, Boddhisattva Estates Pvt Ltd, Preeti Chandra Art Development Foundation and Oxygen Clothing.

According to the ED, its probe has also revealed that Preeti Chandra had served as the CEO of a US-based entity, Icon Clothing Inc. but this was not revealed to the agency, the people said. It claimed that her husband had incorporated this company in 1996. S-ET

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