ED Arrests Ajay Sehgal in Suntec City Project Money Laundering Case
ED arrests Ajay Sehgal in Suntec City project money laundering case
Asianet Newsable
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Ajay Sehgal, Secretary of the Indian Cooperative House Building Society, was arrested by the Enforcement Directorate (ED) for money laundering linked to the Suntec City project in Punjab. He allegedly forged consent letters from landowners to fraudulently obtain Change of Land Use (CLU) for a real estate project, leading to significant financial gains from illegal sales.
- 01Sehgal allegedly prepared fake consent letters for 30.5 acres of land belonging to 15 landowners to secure CLU for Suntec City.
- 02During a raid, ED recovered ₹21 lakh (approximately $25,000 USD) that was thrown from a balcony by a businessman linked to the case.
- 03The ED's investigation revealed sales exceeding ₹200 crore (approximately $24 million USD) from unauthorized projects developed using the fraudulent CLU.
- 04Sehgal has not transferred plots for Economically Weaker Sections to the Greater Mohali Area Development Authority (GMADA) as required.
- 05The ED is investigating potential collusion involving senior officials in GMADA and the Department of Town and Country Planning.
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Ajay Sehgal, the Secretary of the Indian Cooperative House Building Society, was arrested by the Enforcement Directorate (ED) in Jalandhar for his involvement in a money laundering scheme concerning the Suntec City project in Punjab. The case emerged following a complaint from farmers whose consent was allegedly forged to obtain Change of Land Use (CLU) for the project. Investigations revealed that Sehgal prepared fake consent letters for 30.5 acres of land belonging to 15 landowners, allowing the accused to secure CLU for developing the real estate project.
The ED's search operations earlier this month led to the recovery of ₹21 lakh (approximately $25,000 USD) that was thrown from a balcony during a raid. Furthermore, it was found that Sehgal had developed additional projects, including the La Canela residential complex, based on the fraudulent CLU, generating over ₹200 crore (approximately $24 million USD) in unauthorized sales. The ED is also probing the role of senior officials in GMADA and the Department of Town and Country Planning for their alleged complicity in these activities, with further arrests expected.
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The case highlights systemic corruption in land use approvals, affecting local farmers and landowners who were misled.
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