Supertech's Arora main person who decided to divert homebuyers' funds: ED
The ED on Wednesday alleged R K Arora, owner of real estate company Supertech, was the group's main controlling person who decided to "divert" investors and homebuyers money worth crores of rupees to various shell companies.
Ram Kishor Arora was arrested under the anti-money laundering law on Tuesday. Earlier on Wednesday, he was sent to Enforcement Directorate (ED) custody till July 10 by the court of Duty Sessions Judge Devender Kumar Jangala.
"The arrest is made in connection with the investigation being done against the Supertech Group for diverting, siphoning off and misappropriating funds of investors and customers," the ED said in a statement.
The money laundering case, filed under the criminal sections of the Prevention of Money Laundering Act (PMLA), stems from as many as 26 FIRs registered by Delhi, Haryana and Uttar Pradesh police against Supertech Limited and its group companies on allegations of cheating 670 homebuyers to the tune of Rs 164 crore.
"Huge amounts of mone