Unitech MD Sanjay Chandra arrested by Delhi Police

Sanjay Chandra and his brother Ajay Chandra, the promoters of Unitech were arrested by the economic offences wing of Delhi Police this morning.

Both the promoters of the real estate giant will be produced before the court at around 2pm today, according to a Times of India report.

The Delhi Police had earlier filed an FIR against Chandra on the complaint of home buyers. Chandra is accused of duping buyers who had booked flats in his Greater Noida residential project. The buyers alleged that Unitech had not completed the project on time and also did not refund their money along with interest.

There are also allegations that Chandra fraudulently took the money of his clients and used a shell company to launder it abroad.

In January, a Delhi court had ordered a 1-day judicial custody for Chandra and other promoters of Unitech.