CHANDIGARH: On Tuesday, the Enforcement Directorate initiated searches at multiple sites in Punjab and Chandigarh linked to a real estate company and its promoters, as part of a money laundering investigation related to alleged fraud involving the Greater Mohali Area Development Authority (GMADA), according to officials.
Locations associated with Chandigarh Royale City Promoters Pvt. Ltd. (CRCPL), Royale Estate Group (located in Zirakpur, Mohali), and other individuals such as Praveen Kansal alias Rocky, Neeraj Kansal, Daljit Singh, Anurag Midha, Liaqat Ali, and Sumit Bansal were targeted during these searches.
This action was taken under the Prevention of Money Laundering Act (PMLA).
The investigation follows a FIR filed by the Punjab Police in July 2025 against the directors of CRCPL for fraud, criminal conspiracy, and failure to meet statutory obligations owed to GMADA, as well as submitting dishonored cheques totaling Rs 32.67 crore related to a residential project in Karala village, Mohali, as stated by ED officials.
The agency’s preliminary investigation has revealed that CRCPL has significant outstanding debts to GMADA, while fund flows are allegedly routed and diverted through associated entities.
Moreover, the ED is examining suspicious inter-company transactions and the layering of funds linked to the Royale Estate Group, officials indicated.
During the searches, various property documents and digital devices were confiscated.
