Real estate group IREO's Vice Chairman and Managing Director Lalit Goyal has been arrested by the Enforcement Directorate in a money laundering case, days after he was stopped at the Delhi airport from flying abroad.
Goyal, whose sister is married to BJP leader Sudhanshu Mittal, was taken into custody in Chandigarh after his responses to the ED's queries were "evasive", officials said. The arrest came after four days of questioning.
Last Thursday, Goyal was stopped by the Immigration officials at the Delhi airport on the basis of a look out circular issued against him by the ED. He was scheduled to fly to the United States.
Goyal, whose name also figured in the 'Pandora Papers', is being probed in connection with a money laundering case linked to diversion of around $77 million of home buyers' funds, investments and shareholdings to some offshore entities. Goyal has denied the allegations.
The case was registered by the Chandigarh ED.
The IREO Group's IREO Private Ltd is reeling in losses of Rs 500 crore as in 2018-19.
Goyal had allegedly moved assets, investments and shareholdings worth around $77 million to four offshore entities registered in the British Virgin Islands before the business got into losses.
IREO has been under ED investigation since 2010 in a FEMA (Foreign Exchange Management Act) case.
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(Published 16 November 2021, 07:00 IST)
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