The Enforcement Directorate (ED) carried out searches at various locations in Punjab and Chandigarh as part of an investigation into suspected fraud and money laundering involving Chandigarh Royale City Promoters and their associates. The searches, conducted under the Prevention of Money Laundering Act, targeted properties associated with individuals like Praveen Kansal, Neeraj Kansal, Daljit Singh, Anurag Midha, Liaqat Ali, and Sumit Bansal. The ED’s actions were based on a case initiated following a police FIR in 2025 against the directors and others linked to Chandigarh Royale City Promoters Pvt. Ltd.
The ED’s searches were focused on properties connected to Chandigarh Royale City Promoters Pvt. Ltd., Royale Estate Group, and related individuals/entities in Punjab and Chandigarh. The investigation stemmed from allegations of fraud and criminal conspiracy related to non-payment of dues to the Greater Mohali Area Development Authority (GMADA) and bounced cheques worth around Rs 32.67 crore. The probe uncovered significant outstanding debts owed by CRCPL to GMADA, with funds allegedly being channeled through affiliated entities and associates.
The ED’s scrutiny revealed questionable financial transactions between companies and the movement of funds through entities associated with Royale Estate Group. During the search operations, the ED seized incriminating documents, electronic devices, financial records, and property-related papers. The investigation highlighted suspicious financial dealings and fund transfers within the entities linked to the case.
