The Enforcement Directorate (ED) has accused Supertech Group and its chairman Ram Kishor Arora of diverting at least INR 638 crore ($85.5m) collected from homebuyers and borrowed from banks to buy properties in Gurugram instead of completing existing projects in Noida. Arora was arrested by the ED in a money laundering case on Tuesday. The ED has estimated that the total proceeds of the crime amount to INR 638.93 crore.
Supertech, its promoter diverted ₹638crore: ED
