ED attaches assets worth Rs 37.26 cr in Punjab
Apr 28, 2023
Chandigarh (Punjab) [India], April 28 : Enforcement Directorate (ED) provisionally attached assets to the tune of Rs 37.26 crore, belonging to Surinder Pal Singh alias Pehalwan, his family and entities under the provisions of the Prevention of Money-laundering Act (PMLA), 2002.
According to the ED statement, the attached assets include 63 immovable properties consisting of parcels of land and buildings in various districts of Punjab. These properties pertain to three companies associated with Surinder Pal Singh and his family members and certain other properties registered in the name of other closely associated entities and individuals.
The assets attached also include movable properties in the form of balances available in several bank accounts pertaining to Surinder Pal Singh, his family members and companies managed and controlled under instructions of Surinder Pal Singh alias Pehalwan.
ED had initiated an investigation on the basis of FIR registered and Chargesheet filed by the Vigilance Bureau, Punjab under various sections of IPC and PC Act. It was alleged that Surinder Pal Singh, who was posted as Executive Engineer/Superintendent Engineer/Chief Engineer at various offices of Punjab Mandi Board and Greater Mohali Area Development Authority (GMADA), had incorporated several companies through his family members and deposited in the accounts of such companies huge quantum of funds earned by him through illicit means.
He misused his official position and allotted multi-crore projects to his favoured firms thereby ensuring illegal monetary gains for himself as well as various other persons belonging to his own family, etc, said ED.
In this connection, ED had earlier conducted searches under PMLA at various premises connected with Surinder Pal Singh, his associates and others as a result of which proceeds of crime lying in the form of Term Deposits, totalling Rs 5.93 crore were ordered to be frozen.
During the investigation, ED said Surinder Pal Singh and his family members and associates were not able to prove the genuineness of the business and financial transactions of such companies incorporated by Surinder Pal Singh in the name of his family members, which clearly established the fact that the companies were floated only with the purpose to launder the illicit income of Surinder Pal Singh earned by misuse of his official position in Punjab government.
Also, no supporting documents were ever submitted by them during the investigation regarding huge cash deposits in the bank accounts of the companies managed and controlled by Surinder Pal Singh. Moreover, during the investigation, certain properties were found to be purchased directly in cash in the name of such companies.
Further investigation into this matter is in progress.
