TaxTMI 
TaxTMI 
ED searches multiple locations in Punjab, Chandigarh in PMLA case against PSIEC officials
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....D searches multiple locations in Punjab, Chandigarh in PMLA case against PSIEC officials<BR>PMLA / Black Money<BR>Dated:- 4-8-2026<BR>PTI<BR>Chandigarh, Aug 4 (PTI) The Enforcement Directorate on Tuesday conducted a search and survey operation at multiple locations in Punjab and Chandigarh as part of a money laundering investigation linked to alleged irregularities in the Punjab Small Industries a....
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....nd Export Corporation (PSIEC), officials said. The corporation is tasked to promote industries in Punjab. The central agency raided about 11 premises in Chandigarh, in addition to locations in Ludhiana, Patiala, Amritsar and Gurdaspur in Punjab, the officials said. A survey was conducted under the Prevention of Money Laundering Act (PMLA) at the PSIEC office in Chandigarh, also known a....
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....s 'Udyog Bhawan', they said. The premises searched included those belonging to PSIEC Executive Director Bhai Sukhdeep Singh, retired PSIEC chief general manager Surendra Pal Singh, retired general manager Jaswinder Singh Randhawa, another retired officer named Savtej Singh apart from some other corporation officials, property dealers and benamidars (in whose name a benami asset is being held).....
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.... The PMLA case stems from a March 2024 FIR registered by the Punjab Vigilance Bureau in Mohali on charges that certain officials of PSIEC and private persons connived with property dealers to allot expensive plots in the names of relatives and friends. The ED is investigating charges that fake firms and fraudulent addresses were used by private persons while applying for industrial plots g....
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....iven through the PSIEC. Private persons accomplished this through "close connections" with the PSIEC officials, according to official sources. The agency is also investigating the alleged role of PSIEC officials and private persons for "diversion" and change of land use of industrial plots allotted in Ludhiana by some real estate developers and some prominent business groups. The real esta....
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....te developers "diverted" the industrial plot to residential use generating "windfall" profit for themselves while causing a loss to the state exchequer, the officials said. They said a company linked to arrested Punjab minister Sanjeev Arora is also under the ED's scanner as part of this probe. Arora was arrested by the ED a few months ago in a money laundering case and is currently lodged....
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.... in jail. He has denied any wrongdoing. PTI NES KVK KVK =============<BR> News - Press release - PIB....