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Saturday , 25 May 2019
Breaking News

Unitech Promoters are detained for raising money illegally

Sanjay Chandra and Ajay Chandra have detailed because the real estate company, Unitech had hovered FD system in the year 2012 and raised about 600 Crore rupees.

All the investors were promised of 12 percent rate of interest in return. Almost 55,000 people had invested in the FD scheme, and all have lost their money.

Only bank, housing finance businesses and NBFC’s have legal right to offer such type of scheme to the people, and Unitech did it in the year 2012, which is a complete violation of the law.

On Monday promoters of Unitech Company were arrested from Delhi by Gurgaon police.

At present, some 24 cases are registered against both promoters which are like fraud, non-payment of FD amount, etc. Both are detained in 5 days custody and may be produced before the court on Saturday.

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