PMLA probe: ED to quiz Bajwa Developers’ managing director

An ED case information report before the Mohali court cited alleged proceeds of crime of ₹662.49 crore linked to the accused and related entities

The Enforcement Directorate (ED) has secured a three-day remand of Jarnail Singh Bajwa, managing director of Bajwa Developers Limited, for a money laundering probe.

Jarnail Singh Bajwa, managing director of Bajwa Developers Limited, will remain in ED custody until November 3, when the matter will be taken up again (HT)

The ED initiated the investigation under the Prevention of Money Laundering Act (PMLA), following multiple FIRs filed by the Punjab Police and complaints by plot buyers in the Sunny Enclave project in Mohali.

An ED case information report before the court cited alleged proceeds of crime of ₹662.49 crore linked to the accused and related entities.

Bajwa was earlier arrested by Sohana police on August 29, 2024, in connection with separate plot-related FIRs. The ED later sought production warrants and recorded Bajwa’s statement before formally arresting him in the money laundering case. The court of additional district and sessions judge Hardip Singh permitted three days of custodial interrogation to facilitate further investigation.

Earlier in May this year, the probe agency conducted search operations at Bajwa’s several premises in Mohali, to secure crucial evidence. During those searches, investigators seized ₹42 lakh, four luxury cars, and various documents allegedly related diversion and layering of funds.

The ED also froze multiple bank accounts belonging to the company, its directors and Bajwa’s family members. A provisional attachment of movable properties was earlier issued and later confirmed by the Adjudicating Authority (PMLA), New Delhi. Bajwa will remain in ED custody until November 3, when the matter will be taken up again.