In a money laundering case involving fraud with property buyers, the Enforcement Directorate (ED) has returned six immovable properties valued at Rs 20.21 crore to the State Bank of Patiala and Catholic Syrian Bank. The properties, belonging to Nature Heights Infra and its officials, have a current market value of around Rs 50 crore, as per the ED’s Jalandhar Zonal Office.
These properties were restored following an order from the Special PMLA Court in Mohali on February 6. The commercial properties, located in Fatehgarh Sahib district in Punjab, were part of the assets attached by the ED during the investigation related to defrauding investors by Nature Heights Infra and its Director Neeraj Thatai alias Neeraj Arora.
The ED’s actions were carried out under the Prevention of Money Laundering Act (PMLA), 2002. Neeraj Arora, who was arrested on October 8, 2024, remains in judicial custody. The investigation revealed that Arora had deceived numerous investors by collecting money for properties without providing the promised land or refunds.
