Delhi Court Grants Bail to Supertech Chairman R.K. Arora in Money Laundering Case”

A Delhi court on June 6 granted bail to Supertech chairman and promoter R.K. Arora in a money laundering case. Additional Sessions Judge Devender Kumar Jangala granted relief to Mr. Arora, noting that there was no likelihood of him evading the trial or influencing the investigation.

Mr. Arora was arrested in June 2023 in connection with multiple allegations of financial misconduct. As many as 26 FIRs were registered by the Economic Offences Wing (EOW), Delhi Police, Haryana Police, and Uttar Pradesh Police against Supertech Limited and its group companies, and Arora, for criminal conspiracy, cheating, and criminal breach of trust. The FIRs alleged that Supertech and its affiliates had cheated at least 670 home buyers for an amount of Rs 164 crore.

The Enforcement Directorate (ED) filed a case based on the FIRs to probe alleged money laundering by the accused. According to the ED, the amount collected by Supertech Ltd. was diverted to their group companies for the purchase of properties and land with much lesser value. The ED further alleged that the accused had acquired properties and made illegal and wrongful gains arising from the said proceeds of crime by involving, indulging, and commissioning criminal activities related to scheduled offenses.

In his order, Judge Jangala stated that there was no evidence to suggest that Mr. Arora would evade trial or tamper with the investigation. Consequently, the court found it appropriate to grant him bail.

This case marks a significant development in the ongoing investigation into financial irregularities involving Supertech Limited and its affiliates. The decision to grant bail to Mr. Arora is expected to have considerable implications for the future proceedings of the case.

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