CHANDIGARH: The Enforcement Directorate (ED) has arrested Ajay Sehgal, a real estate businessman, in connection with a money laundering case involving alleged fake consent letters used to acquire Change of Land Use (CLU) from the Punjab government, officials reported on Saturday.
Officials stated that Sehgal, who also serves as Secretary of the Indian Cooperative House Building Society (ICHBS), was apprehended on Friday by the Jalandhar office of the ED under the Prevention of Money Laundering Act (PMLA).
Earlier this month, the ED conducted raids at Sehgal’s properties linked to the Suntec City project developed by ICHBS. This investigation originated from an FIR filed by Punjab Police after farmers reported that their consent was allegedly “forged” to obtain CLU.
According to the ED, Sehgal is accused of creating “fake” consent letters concerning 30.5 acres of land owned by 15 individuals.
“Based on these fraudulent consent letters, the accused received CLU to develop a real estate mega project called ‘Suntec City’. The letters were created with forged signatures and thumbprints of the landowners to facilitate the CLU,” the ED noted.
The investigation also revealed that Sehgal developed ‘La Canela’, a residential multi-storey complex, and ‘District 7’, a commercial complex, using the CLU obtained through these “fake” consent letters. Units in these projects were reportedly sold prior to obtaining registration and approval from the Real Estate Regulatory Authorities (RERA).
The ED claimed that over ₹200 crore in sales have been made from these illegal projects, and Sehgal has yet to transfer plots designated for economically weaker sections to the Greater Mohali Area Development Authority (GMADA).
Officials indicated that the roles of other senior officials and authorities within the Department of Town and Country Planning and GMADA are under investigation, with potential for further arrests in the case.
