Supertech Chairman RK Arora Granted Bail in ₹700 Crore Money Laundering Case

GG News Bureau
New Delhi, 7th June. The Patiala House Court of Delhi has granted regular bail to RK Arora, the chairman and promoter of Supertech, in a  matter related to a ₹700 crore money laundering case. Arora, who was arrested in June last year, secured bail upon furnishing a personal bond of ₹1 lakh and two sureties of equal amount.

Additional Sessions Judge Devender Kumar Jangala presided over the bail hearing, which saw a robust defense presented by a team of legal experts including Advocates Tanveer Ahmed Mir, Yash Dutt, Kartik Venu, Shashwat Sarin, Aaraiana Ahluwalia, and Vaibhav Suri.

The Enforcement Directorate (ED) had leveled serious allegations against Supertech Limited and its group companies, with 26 FIRs registered by various law enforcement agencies, including the Economic Offences Wing (EOW) of Delhi Police, Haryana Police, and UP Police. These allegations encompassed charges of criminal conspiracy, breach of trust, cheating, and diversion of funds amounting to ₹164 crore, affecting approximately 670 home buyers.

According to the ED, funds collected by Supertech Ltd were allegedly diverted to group companies for the acquisition of properties, with discrepancies in valuation noted. The ED further accused the defendants of acquiring properties through illegal means, resulting in wrongful gains from the proceeds of crime.