Tag: Suntec City project

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ED apprehends Punjab real estate tycoon in land scam

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…

Latest StoriesRegulatory

ED Raids Punjab Builders in Land Fraud Case

CHANDIGARH: The Enforcement Directorate (ED) executed searches across various sites in Punjab and Chandigarh on Thursday as part of a money laundering inquiry involving certain builders and real estate firms linked to a suspected land fraud scheme, officials reported. Approximately a dozen locations in Mohali and Chandigarh associated with the Suntec City project, and firms such as Ajay Sehgal, ABS Townships, Altus Builders, and Dhir Constructions are currently under examination under the Prevention of Money Laundering Act (PMLA). Sources indicate that a person named Nitin Gohal is also being investigated by the ED, as he is accused of assisting builders…