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The Enforcement Directorate (ED) conducted raids across Punjab and Chandigarh in connection with an alleged real estate fraud and money laundering case linked to the Greater Mohali Area Development Authority (GMADA) and the Suntec City housing project in Mohali. The investigation focuses on alleged forged landowner consent letters, fake signatures and irregular approvals used to secure Change of Land Use (CLU) permissions. Officials are also examining possible diversion of project funds and unpaid dues linked to the development. The case follows earlier ED action, including the arrest of a builder associated with the project, as scrutiny of land approvals and real estate transactions in Punjab continues to increase.
The Enforcement Directorate carried out search operations at multiple locations in Mohali, Chandigarh and nearby areas as part of an ongoing money laundering investigation linked to alleged irregularities in a major real estate project in Punjab. Advertisement
The raids were conducted under the Prevention of Money Laundering Act (PMLA) in connection with the Suntec City housing project and allegations involving forged land-related documents, irregular approvals and suspected financial misconduct. The case is linked to Indian Cooperative House Building Society (ICHBS), promoter Ajay Sehgal and associated entities.
According to investigating officials, the ED probe originates from a Punjab Police FIR registered in 2022 at Mullanpur in Mohali district. Authorities alleged that forged consent letters and fake signatures of landowners were used to obtain Change of Land Use (CLU) approvals from GMADA for a township project spread across nearly 30.5 acres.
Investigators alleged that documents submitted for approvals contained forged signatures and thumb impressions of around 15 landowners. Officials are examining whether the approvals obtained through these documents were later used to facilitate development permissions and project-related financial transactions.
During the searches, officials reportedly reviewed property records, bank transactions, digital devices and financial documents connected to the project and associated entities. The agency is also investigating whether funds collected for the housing project were diverted and whether statutory dues payable to GMADA remained unpaid.
The ED is further examining the possible role of intermediaries and individuals allegedly linked to approval processes, land transactions and recovery of dues connected to the project. The investigation is expected to look into financial flows between developers, associated firms and other entities linked to the case.
The latest searches come shortly after earlier ED action in the same matter. Earlier this month, the agency had arrested builder Ajay Sehgal in connection with the alleged CLU fraud and money laundering case. Previous searches linked to the investigation had also reportedly led to recovery of cash and scrutiny of several individuals connected to real estate dealings in the region.
Punjab’s real estate sector, particularly in Mohali, Zirakpur and Chandigarh, has witnessed increased regulatory scrutiny over the past few years due to complaints related to delayed projects, disputed land ownership, approval irregularities and financial defaults. Authorities have intensified checks on developers and land transactions as urban expansion in the region continues at a rapid pace.
The case has also drawn attention to the approval process for township and group housing projects in Punjab, especially projects requiring large-scale land aggregation and CLU permissions. Industry observers believe stricter monitoring of land documentation and regulatory clearances could become more common following recent investigations.
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