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Over Rs 3.17-crore ‘fraud’: ED searches residence of Bajwa Developers’ chief

The scam includes charges of collecting money from unsuspecting buyers without allotting plots and registering the same plots in the names of other individuals.

The ED had initiated an investigation against Jarnail Singh Bajwa, based on multiple FIRs filed by Punjab Police under various sections of the IPC, 1860. (File Photo)

The Enforcement Directorate (ED) conducted a raid on the residence of Jarnail Singh Bajwa, owner of Bajwa Developers, on Wednesday afternoon in Mohali in connection with a financial fraud amounting to approximately Rs 3.17 crore.

According to officials, the ED had obtained permission from the Mohali District Court in April to interrogate Jarnail Singh Bajwa. Following this, ED officers visited him at Ropar Jail for questioning. Based on the information gathered during that session, the agency launched a raid today at his Mohali residence.

The ED had initiated an investigation against Jarnail Singh Bajwa, Managing Director of Bajwa Developers, based on multiple FIRs filed by Punjab Police under various sections of the Indian Penal Code (IPC), 1860. The investigation revealed that Bajwa was allegedly involved in a financial fraud amounting to approximately Rs 3.17 crore.

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The scam includes charges of collecting money from unsuspecting buyers without allotting plots and registering the same plots in the names of other individuals. In 2023, the ED had already begun probing Bajwa under the Prevention of Money Laundering Act (PMLA) and had attached assets worth Rs 54.16 lakh, which were later seized.

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