ED raids Bajwa Developers, associates in Mohali continues

ED claimed that during the search operations, various incriminating documents, cash amounting to ₹42 lakh, and four luxury vehicles were recovered and seized.

A team of the Enforcement Directorate (ED) on Thursday conducted search operations at various locations in Mohali, Punjab, against Bajwa Developers Ltd., its managing director Jarnail Singh Bajwa, and its associates under the provisions of PMLA, 2002 in Mohali. This was part of an ongoing investigation against M/s Bajwa Developers Limited and Jarnail Singh Bajwa.

Various personal bank accounts of directors and family members, as well as various bank accounts of the companies, have been frozen. (HT File)

ED claimed that during the search operations, various incriminating documents, cash amounting to ₹42 lakh, and four luxury vehicles were recovered and seized. Various personal bank accounts of directors and family members, as well as various bank accounts of the companies, have been frozen.

ED, while sharing this information on Twitter, further claimed that all the seized items have been made case property and will further go on to attach his property amassed by duping people under PMLA.

On Thursday afternoon, an ED team raided the home of Jarnail Singh Bajwa, owner of Bajwa Developers. The raid was ongoing at the time of this report. Bajwa is currently lodged in Ropar jail.

In April, the ED team obtained permission from the Mohali district court to interrogate Jarnail Singh Bajwa. Subsequently, ED officials questioned him in Ropar Jail. Based on this, a raid was conducted at his residence in Mohali.

The ED initiated an investigation against Jarnail Singh Bajwa based on various FIRs filed by Punjab Police under the IPC Act of 1860. The investigation revealed that Bajwa committed fraud amounting to ₹3.17 crore. Cases emerged involving taking money from unsuspecting individuals without providing plots and registering plots allotted to others.

In 2023, the ED began a money laundering investigation against Bajwa, during which they attached his property worth ₹54.16 lakh. This property was seized by the ED. There are 50 FIRs registered against Bajwa for fraud with gullible investors and those aspiring to own a house.