India, Aug. 14 -- The Enforcement Directorate (ED) has submitted chargesheet against 10 people and entities over an alleged diversion of Rs.43.73 crore collected from flat and shop buyers for redevelopment projects across Mumbai. The agency has alleged that promoters of the business group diverted the funds for personal benefit, leaving several projects incomplete and buyers, tenants and investors facing losses.

The ED filed its prosecution complaint (chargesheet) on July 31 before a special Prevention of Money Laundering Act (PMLA) court in the city. It named J Tanna, D Tanna, V Tanna and seven entities belonging to the business group. The court has ordered issuance of pre-cognisance notices to the accused, ED officials said on Thursday...