The Enforcement Directorate (ED) on Tuesday carried out extensive searches at multiple locations in Punjab and Chandigarh in connection with an alleged fraud and money laundering case involving Chandigarh Royale City Promoters Pvt Ltd and the Royale Estate Group, officials said.
Searches Under PMLA
The searches were conducted by the Chandigarh Zonal Office-I of the ED under the provisions of the Prevention of Money Laundering Act (PMLA). Officials familiar with the matter told ANI that raids were carried out at several premises linked to the group, including the main office of the Royale Estate Group located on the Chandigarh-Delhi Highway in Zirakpur.
Origin of Investigation
The action stemmed from an ED investigation launched based on a case registered by the Punjab Police on July 19, 2025, against the directors and associates of Chandigarh Royale City Promoters Pvt Ltd. The case pertains to alleged fraud and criminal conspiracy involving the wilful default of statutory dues payable to the Greater Mohali Area Development Authority (GMADA).
Details of the Fraud
The company submitted dishonoured cheques worth nearly Rs 32.67 crore linked to a residential colony project in Village Karala, SAS Nagar, Punjab. Investigators suspect that funds collected for the housing project were diverted through a network of associated entities and related parties. The ED also flagged suspicious inter-company transactions and alleged layering of funds linked to entities associated with the Royale Estate Group.
Individuals Targeted
Officials said the searches were conducted at several residential premises linked to individuals, including Praveen Kansal alias Rocky, Neeraj Kansal, Daljit Singh, Anurag Midha, Liaqat Ali, and Sumit Bansal, among others.
Recovery of Documents
During the raids, investigators allegedly recovered multiple incriminating documents, digital devices, financial records, and property-related papers, which are expected to assist in the ongoing probe.
Investigation Ongoing
The ED said the investigation is still underway, and more details are likely to emerge after examination of the seized material.
