Unitech MD Sanjay Chandra to be produced in Delhi court on Saturday

Two people, including real estate firm Unitech Managing Director (MD) Sanjay Chandra, arrested by the Economic Offences Wing late last night, will be produced in a Delhi court on Saturday.

According to sources, Chandra is accused of duping buyers who had booked flats in his real-estate project in Greater Noida.

Home buyers had accused Unitech of not completing the project and non-payment of their money along with interest.

Allegations are also that Chandra fraudulently took money from his clients and parked it in a shell company, thereby laundering it abroad.

Earlier, Chandra was arrested by the Central Bureau of Investigation (CBI) in the 2G trial.

Chandra had bid and won licence for the Telecom project which he later sold to Norway company Telenor.