Lalit Goyal, the vice chairman of actual property group IREO, has been arrested by the Enforcement Directorate in a cash laundering case.
The tycoon was detained final week on the Delhi Airport when he was about to take a flight out, reportedly to the US. A lookout round had been put out in opposition to Mr Goyal by the Enforcement Directorate, which investigates monetary crimes.
“Goyal positioned beneath arrest as he was not cooperating with the investigation,” a senior official of the company mentioned.
Mr Goyal was stopped on the airport and questioned on Thursday. Officers mentioned he was “evasive”, so his arrest was crucial.
IREO has been beneath investigation since 2010 over a case involving the violation of the Overseas Trade Administration Act (FEMA).
The corporate is accused of shifting $77 million in homebuyers’ cash, funding and shareholdings to an offshore belief.
The businessman’s identify additionally figured within the “Pandora Papers”, a world investigation on offshore funds.
Mr Goyal and his legal professionals have denied any wrongdoing.