Enforcement Directorate raids Punjab officials over illegal plot allotments

The Enforcement Directorate (ED) has conducted raids and searches across Chandigarh and several Punjab cities, including Amritsar, Gurdaspur, and Ludhiana, as part of a money laundering investigation. The probe targets officials of the Punjab Small Industries and Export Corporation (PSIEC) and their associates regarding the illegal allotment of industrial plots.

The investigation follows a complaint by the Punjab Vigilance Bureau alleging that officials accepted bribes to award industrial plots to individuals and shell companies with no technical or manufacturing background. Investigators found that applicants used fake addresses and fictitious firms to secure plots, which were later resold at market rates for significant illicit profit.

According to the agency, a loophole was exploited where delays in taking possession were classified as a ‘zero period,’ allowing allottees to defer payments without interest. During the searches, the ED seized various documents, digital devices, and approximately Rs 12,15,000 in unaccounted cash. Additionally, bank accounts belonging to two retired PSIEC officials, Surinder Pal Singh and Jaswinder Singh Randhawa, containing about Rs 4.01 crore, have been frozen.