ED raids Suntec City, Altus Space Builders in Punjab CLU scam; Rs 1 crore seized; Aman Arora's aide also involved
PTC Web Desk: The Directorate of Enforcement (ED) conducted search and seizure operations against two real estate groups in Punjab, Indian Cooperative Housing Building Society, associated with the ‘Suntec City’ project, and Altus Space Builders Private Limited, in connection with alleged large-scale fraud involving Change of Land Use (CLU) permissions and cheating of homebuyers and landowners.
According to officials, the probe revealed that Suresh Kumar Bajaj and Ajay Sehgal of the Indian Cooperative Housing Building Society allegedly forged consent letters of 15 landowners for approximately 30.5 acres of land to obtain CLU clearance for developing the ‘Suntec City’ mega project. The agency alleged that the consent letters contained forged signatures and thumb impressions.
Based on these documents, the accused secured approvals and subsequently collected over Rs 150 crore by enrolling members into the housing society without executing sale deeds, the ED said.
A case in this regard was earlier registered by the Punjab Police at the Mullanpur police station in SAS Nagar, Mohali, under various sections of the IPC, including criminal conspiracy, cheating and forgery.
Investigators further stated that Ajay Sehgal also developed residential and commercial projects, La Canela’ and ‘District 7’, on the basis of the allegedly fraudulent CLU approvals. All units in these projects were sold, generating what the agency termed “proceeds of crime”.
The ED is also examining alleged irregularities in obtaining RERA approval for the ‘District 7’ complex.
Following litigation by affected parties in the Punjab and Haryana High Court, the Greater Mohali Area Development Authority (GMADA) has cancelled the licence of the housing society.
In a separate case, the ED is probing Altus Space Builders Pvt Ltd after multiple complaints by buyers alleging misrepresentation regarding CLU approvals. The company allegedly claimed it had final CLU clearance from GMADA, while concealing that the approval was conditional and later cancelled.
The Punjab Police registered an FIR in February 2024 at the Phase 11 police station in Mohali under provisions of the Bharatiya Nyaya Sanhita (BNS), 2023 against the company and its director, Mohinder Singh. Officials said a non-bailable warrant has been issued against Singh under the Negotiable Instruments Act, and he has been declared a proclaimed offender.
The ED also alleged that in a suspected money laundering arrangement, Gaurav Dhir of Dhir Constructions, through an entity named Suncity Projects, purchased the project from Altus Space Builders for Rs 130 crore, significantly undervaluing it by over Rs 170 crore. Gaurav Dhir is close associate of one of the high ranking AAP leaders Aman Arora.
During the searches, the agency also examined the role of alleged middlemen Nitin Gohal and Pritpal Singh Dhindsa, who are suspected to have facilitated political patronage and interference in government functioning. The ED claimed to have recovered incriminating documents indicating undue influence by private individuals.
In a dramatic incident during the raids, officials said cash amounting to Rs 21 lakh was allegedly thrown from a balcony, scattering on the road below. The money was later recovered by the search team.
Overall, the ED said it seized approximately Rs 1 crore in cash during the operations. Further investigation in the case is ongoing.
- PTC NEWS
