ED shares raid details on real estate giants in Punjab; seizes Rs 1 crore cash across raids
Kanwar Inder Singh/ royalpatiala.in News/ May 7,2026
Today early morning Directorate of Enforcement (ED) has conducted search and seizure operations on real estate groups in Punjab involved in fraudulent Change of Land Use (CLU) and duping of customers and land owners.
Confirming the same an ED sources on the condition of anonymity said “Suresh Kumar Bajaj and Ajay Sehgal of Indian Cooperative Housing Building Society prepared fake consent letters with respect to 30.5 acres of land of 15 landowners. On the basis of these fake consent letters, the accused entity/person(s) were granted Change of Land Use (CLU) for developing a Real Estate Mega Project namely ‘Suntec City’. These consent letters were prepared with forged signature & thumb prints of the land owners for taking the CLU. Thereafter, Indian Cooperative Housing Building Society collected over Rs 150 crores by admitting members to the society without executing any sale deed.”
As per available information an FIR No. 123 dated 19.11.2022 was registered by Punjab Police at Police Station Mullanpur, SAS Nagar, Mohali, Punjab under section 120B, 420, 467, 468, 471 & 472 of Indian Penal Code, 1860 with respect to the forging of signatures for obtaining the CLU.
“Besides plots, Ajay Sehgal also developed La Canela residential multi-storey complex and District 7 commercial complex based on the CLU obtained from fake consent letters and all the units in these two projects have been sold thereby generating proceeds of crime. Investigation is also being undertaken in allegations of irregularities in RERA approval for District 7 commercial complex” said an officer on the condition of anonymity.
In view of the litigation pursued by the victims before the Punjab and Haryana High Court, GMADA has cancelled the license of the aforesaid society.
Another source added that “Multiple buyers filed complaints under various forums ( Rera, Police and Consumer Court) regarding deceitfully misrepresenting that the project had obtained final CLU from GMADA while concealing that the CLU was conditional which was later on cancelled. Non bailable warrant against promoter Mohinder Singh under Negotiable Instrument Act has also been issued and he has been declared proclaimed offender. In respect of the fraud committed, FIR No. 07 dated 01.02.2024 was registered by Punjab Police at Police Station Phase 11, SAS Nagar, Mohali, Punjab under section 316, 318(2) and 61 of the BNS, 2023 against Altus Space Builders Pvt. Ltd., and its Director.”
“In order to facilitate money laundering, Gaurav Dhir of M/s Dhir Constructions through its entity M/s Suncity Projects has purchased the project from Altus Space Builders Pvt Ltd for a paltry sum of Rs 130 crores, by undervaluing the project by more than 170 crores. Gaurav Dhir is close associate of one of the high ranking AAP leader, holding a supreme position in Punjab” added ED source.
Official added that In today’s search, “two middlemen Nitin Gohal and Pritpal Singh Dhindsa have also been covered who have helped in political patronage and protection. Several incriminating documents have been recovered suggesting interference of these private individuals in Government functioning in the state of Punjab.”
During the start of the search proceedings cash amounting to Rs 21 lakhs was thrown from the balcony from under the balcony net which got scattered on the road below. The cash was later on recovered by the ED officials.
Approx. cash seizure of Rs 1 crore across the search premises.
Further, investigation is under progress.
