Sanjay Chandra, Managing Director of real estate major Unitech and two others were arrested by the economic offenses wing (EOW) of the Delhi Police in a link of financial irregularities.
Chandra faces the charge of illegitimately divesting the fund of one venture into a different company. He will be produced in the Patiala House Court of Delhi.
Unitech top boss was earlier also been detained in January last year on the charges of fraudulent. He had to spend a night in the Tihar jail before he got an interim bail.
At that time, a case was filed against Unitech Ltd chairman Ramesh Chandra, managing directors Sanjay Chandra and Ajay Chandra and director Minoti Bahri.
The complaint was raised by chartered accountant Sanjay Kalra and his business associate Devesh Wadhwa.
Actually, Kalra and Wadhwa booked a property in Greater Noida built by Unitech. The project was delayed but the corporation had refused to repay the amount, as promised with 11 per cent of annual interest.