Enforcement Directorate Conducts Raids in Punjab Over Alleged Land Fraud
ED raids in Punjab in land 'fraud' case
News 18
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The Enforcement Directorate (ED) has launched a money laundering investigation in Punjab and Chandigarh, targeting builders and real estate companies linked to a land fraud case. Searches are being conducted at multiple locations, including those associated with the Suntec City project and key individuals involved in alleged financial misconduct.
- 01ED is investigating alleged money laundering linked to land fraud in Punjab.
- 02Raids are focused on builders and real estate companies, including Suntec City project.
- 03Nitin Gohal, linked to Punjab's Chief Minister's office, is also under investigation.
- 04Accusations include fraud in obtaining land use licenses and cheating investors.
- 05The investigation is conducted under the Prevention of Money Laundering Act (PMLA).
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On May 7, 2023, the Enforcement Directorate (ED) conducted extensive searches across multiple locations in Punjab and Chandigarh as part of a money laundering investigation into alleged land fraud. The operation targets various builders and real estate companies, including those involved in the Suntec City project, Ajay Sehgal, ABS Townships, Altus Builders, and Dhir Constructions. Investigators are also looking into Nitin Gohal, who is accused of assisting builders in defaulting on payments to the Greater Mohali Area Development Authority (GMADA) and securing political protection for them. The ED has charged the accused with fraudulently obtaining change of land use (CLU) licenses from GMADA, leading to significant financial losses for investors. The investigation is being carried out under the provisions of the Prevention of Money Laundering Act (PMLA).
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The investigation may lead to legal repercussions for involved builders, affecting investor confidence in the real estate sector.
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