The North News
Mohali, July 19
A district court in Mohali on Saturday extended the judicial custody of Shiromani Akali Dal (SAD) leader and former minister Bikram Singh Majithia till August 2 in connection with a ₹540 crore disproportionate assets case.
Majithia was produced before the court under tight security and brought from New Nabha Jail in Patiala. The Punjab Vigilance Bureau (VB), which is leading the investigation, alleges that Majithia and his family underreported land assets and were involved in large-scale financial irregularities. The case also centres around Saraya Industries, a company linked to Majithia’s family since the 1950s. Investigators claim the company’s cash deposits surged by up to 300% after Majithia assumed ministerial office in 2007. Between 2012 and 2013 alone, ₹1,342 crore was deposited, of which ₹236 crore remains unexplained, the VB told the court.
Additional allegations include failure to repay a foreign loan and unexplained personal asset growth of ₹1.5 crore. The Vigilance Bureau estimates total financial irregularities to be around ₹540 crore. During the previous court hearing, the Vigilance Bureau cited discrepancies between official affidavits and property sale deeds. According to officials, while Majithia declared only 0.56 hectares of land in Shimla in an affidavit, a sale deed showed ownership of 402 hectares.
The SAD leader has repeatedly claimed that the case is part of a political vendetta by the Aam Aadmi Party (AAP)-led Punjab government and all companies involved were legally compliant and received clearances from regulatory bodies such as the Reserve Bank of India, State Bank of India, and the Income Tax department.
