Lalit Goyal, the chairman of real estate group IREO, was detained last week at the Delhi Airport when he was about to take a flight out of the country.
New Delhi:
Lalit Goyal, the vice chairman of real estate group IREO, has been arrested by the Enforcement Directorate in a money laundering case.
The tycoon was detained last week at the Delhi Airport when he was about to take a flight out, reportedly to the US. A lookout circular had been put out against Mr Goyal by the Enforcement Directorate, which investigates financial crimes.
“Goyal placed under arrest as he was not cooperating with the investigation,” a senior official of the agency said.
Mr Goyal was stopped at the airport and questioned on Thursday. Officials said he was “evasive”, so his arrest was necessary.
IREO has been under investigation since 2010 over a case involving the violation of the Foreign Exchange Management Act (FEMA).
The company is accused of moving $77 million in homebuyers’ money, investment and shareholdings to an offshore trust.
The businessman’s name also figured in the “Pandora Papers”, a global investigation on offshore funds.
Mr Goyal and his lawyers have denied any wrongdoing.
