Chandigarh, May 7 (PTI) The ED on Thursday conducted searches at multiple locations in Punjab and Chandigarh, including the premises of an alleged associate of Punjab Aam Aadmi Party functionary, as part of a money laundering probe against two realty groups on charges of fraudulent change of land use and duping investors, officials said.
The agency searched about a dozen locations in Mohali (SAS Nagar) and Chandigarh linked to the Suntec City project (developed by ICHBS or Indian Cooperative Housing Building Society), its promoter Ajay Sehgal, ABS Townships, Altus Space Builders, Dhir Constructions and associates under the provisions of the Prevention of Money Laundering Act (PMLA).
By late evening, the ED search teams seized about Rs 1 crore in cash. This included Rs 21 lakh kept in two bags that were flung onto the ground from a window of the Western Towers, a high-rise residential building in Mohali’s Kharar area.
Officials said the search parties recovered the scattered cash, which was in the denomination of Rs 500.
The cash-throwing incident occurred when search parties began raids at the premises of two alleged middlemen, Nitin Gohal and Pritpal Singh Dhinda, ED officials said.
They alleged Gohal “helped” builders who “defaulted” on paying Greater Mohali Area Development Authority (GMADA) fees and arranged “political protection” for them. The agency said “incriminating” documents were recovered from the two individuals which “suggests interference of these private individuals in government functioning in the state of Punjab”.
Punjab Chief Minister Bhagwant Mann clarified that the matter was linked to a private company and had no connection whatsoever with the state government. He stated that it was an old company-related case and termed the raids a routine exercise by the agency.
“The Punjab government has absolutely nothing to do with these raids,” said Mann.
SAD leader Bikram Singh Majithia posted on X about the two cash bags.
“Crores of Money, 500 notes flying in Air. Money Belongs to whom– OSD CM Mann Rajbir’ Singh. ‘Kattar Fraudsters’ in ED trap. ED raids on CM Bhagwant Mann’s close aide OSD Rajbir’ Ghumman’s close aides and relatives Nitin, Veer davinder,” Majithia said in Punjabi.
“ED raids Mohali high-rise linked to CM Mann’s aide; Rs 500 notes fly around after bags thrown from 9th floor. Crores of money is thrown out of 9th floor, Crores of money is flying in Air after ED raid on CM Mann’s close aide’s relatives. Hawala transactions unearthed. Major expose would land soon,” he added.
The money laundering case against Suntec City and its promoters stems from a November, 2022 FIR filed by the Punjab Police at Mullanpur in Mohali.
It is alleged that Sehgal and Suresh Kumar Bajaj prepared fake consent letters for 30.5 acres of land belonging to 15 landowners. Using these letters, it is alleged, that the accused were granted Change of Land Use (CLU) by the GMADA for developing Suntec city, a mega real estate project.
The ED said these consent letters were prepared with “forged” signatures and thumbprints of the land owners.
The promoters and ICHBS collected more than Rs 150 crore by admitting members to the society “without” executing any sale deed, the agency said.
Officials said the GMADA “cancelled” the ICHBS licence after victims of its projects filed a petition before the Punjab and Haryana High Court.
They said besides plots, Sehgal also developed ‘La Canela’ residential multi-storey complex and ‘District 7’ commercial complex based on the said “fake” CLU. All the units in these two projects have been sold and the officials claimed these funds were nothing but proceeds of crime under the PMLA.
Investigation is also being undertaken in allegations of irregularities in RERA approval for ‘District 7’ commercial complex, they said.
The case against the second entity, Altus Space Builders and its promoter Mohinder Singh, stems from an FIR registered at the Phase 11 police station in Mohali.
Multiple homebuyers alleged that they were duped by deceitfully misrepresenting that the real estate project of Altus had obtained “final” CLU from GMADA while the fact was that it was conditional and was finally cancelled, officials said.
They said a court has issued non-bailable warrant (NBW) against Mohinder Singh and he has been declared a proclaimed offender.
The agency claimed that a businessman named Gaurav Dhir of Dhir Constructions purchased the Altus project through its entity Suncity Projects for Rs 130 crore, by “undervaluing” the project cost.
They claimed Dhir was a “close associate” of a cabinet minister of Punjab.
The ED, over the last few weeks, has undertaken some major action against politically-linked persons in Punjab, which is slated to go to polls in early 2027.
It raided the premises of Punjab Industries Minister and AAP leader Sanjeev Arora, his son, some others, and Rajya Sabha MP Ashok Kumar Mittal in separate cases. Mittal, who was with the AAP, later defected to the BJP along with six other AAP MPs. PTI NES CHS VSD KVK KVK
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