Chandigarh, May 23
The Enforcement Directorate has arrested real estate businessman Ajay Sehgal in a money laundering case linked to alleged forged consent letters used to secure Change of Land Use permissions from the Punjab government. The accused, who is associated with the Indian Cooperative House Building Society, was taken into custody by the agency’s Jalandhar office following earlier searches in the case.
Officials said Sehgal was arrested under the Prevention of Money Laundering Act on Friday. The probe is linked to allegations that fake consent letters were used to obtain CLU permissions for large land parcels in Punjab.
According to the Enforcement Directorate, the case originated from a complaint by farmers, which led to an FIR by the Punjab Police. The complaint alleged that consent signatures were forged to obtain land use approvals.
The agency has alleged that Sehgal prepared forged consent documents for approximately 30.5 acres of land owned by 15 individuals. Based on these documents, CLU permissions were granted for a large real estate development project.
The ED has also stated that Sehgal was involved in the development of multiple projects, including a residential complex and a commercial project, based on the same CLU approvals obtained through the alleged forged documents.
Officials further said that units in these projects were reportedly sold even before regulatory approvals from the Real Estate Regulatory Authority were obtained.
According to the agency, the total proceeds from the alleged illegal transactions are estimated to exceed ₹200 crore. It also alleged that mandatory provisions, including the transfer of plots for economically weaker sections to the Greater Mohali Area Development Authority, were not fulfilled.
The Enforcement Directorate had conducted searches earlier this month at multiple premises linked to the accused and the Suntec City project.
Officials said the investigation is continuing, and the roles of other individuals, including some government and departmental officials, are also under examination. Further arrests have not been ruled out as the probe progresses.
