Chandigarh. The Enforcement Directorate has carried out searches at several premises linked to builders, developers and associated entities in Punjab’s real estate sector in connection with an alleged land fraud and money laundering case. The raids, conducted across Mohali and Chandigarh, are linked to allegations of CLU licence manipulation, regulatory violations and collection of crores of rupees from investors for real estate projects.
Builders and Township Projects Under Scanner
According to sources, the action is being conducted under the provisions of the Prevention of Money Laundering Act. The projects and companies under scrutiny include the Suntec City project, ABS Townships, Altus Builders, Dhir Constructions and several associated individuals and firms.
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Investigators suspect that procedures linked to Change of Land Use licences were allegedly manipulated before funds were collected from investors in the name of township and real estate development projects. Officials familiar with the probe said the accused allegedly violated regulations connected to the Greater Mohali Area Development Authority while securing approvals for land development.
Investor Funds and GMADA Approvals Being Examined
After obtaining permissions, the firms allegedly raised crores of rupees from the public through investment schemes and plot allotment offers. Several investors have reportedly claimed that they neither received possession of promised properties nor refunds despite long delays.
The investigation has also brought the name of Nitin Gohal into focus. The agency suspects that he allegedly helped certain builders who had defaulted on GMADA fee payments and facilitated protection for them despite pending liabilities. Sources linked to the probe have claimed that political influence may have been used to provide relief to some entities under scrutiny. No detailed public response has yet been issued by the accused persons named in the investigation.
Documents, Digital Records Seized During Searches
During the raids, ED teams reportedly seized financial documents, digital records, banking transaction details and files related to property investments. Investigators are expected to conduct forensic and financial examination of the recovered material to trace the movement of funds.
Sources indicated that the probe is examining whether money collected from investors for housing and township development was diverted to unrelated private or commercial activities. The agency is also expected to assess whether shell companies or benami transactions were used in the alleged movement of funds.
The operation is being viewed as an initial phase of a wider investigation. Officials are expected to question more individuals connected to the projects in the coming days, and summons may be issued after scrutiny of the seized documents and financial trails. The development has raised concerns over accountability, regulatory supervision and investor protection in Punjab’s expanding real estate sector.
