New Delhi, 02 October (H.S.): The Enforcement Directorate’s (ED) Chandigarh Zone-I conducted search operations on September 28 at business and residential premises linked to TDI Group Chairman Ravinder Taneja and various companies of the TDI Group in connection with the Manesar land scam case. The action was carried out under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, as part of an ongoing investigation. During the searches, several records and files related to various projects, digital devices, computers, hard disks and servers were seized, along with several assets identified as proceeds of crime.

The ED said on Friday that the investigation is linked to the Gurugram (Manesar) land scam case, which originated from an FIR registered by the Central Bureau of Investigation (CBI). The investigation into the TDI Group relates to alleged transactions undertaken during the period of the alleged offence with Atul Bansal and the group of companies led by his ABWIL group.

The investigation revealed that more than 400 acres of government land in the villages of Manesar, Naurangpur and Lakhnoula, which had been notified for acquisition in 2007, was allegedly purchased from farmers at very low prices by private builders and intermediaries amid the apprehension that the land would be acquired by the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC). Subsequently, the land acquisition process was discontinued and the award was abandoned. The same land was later sold by the intermediaries at several times the purchase price, resulting in substantial profits.

According to the ED’s investigation, the TDI Group, led by Ravinder Taneja, has been identified as one such intermediary. According to the agency, during the land acquisition process in the three villages between 2005 and 2007, the TDI Group purchased around 33 acres of land from farmers through three companies — M/s Indo Asian Construction Company Private Limited, M/s NCR Properties Private Limited and M/s Divya Jyoti Enterprises Private Limited.

According to the ED, the land purchased through these companies was subsequently sold to the Atul Bansal group at higher prices, allegedly generating substantial profits for the TDI Group. The agency is investigating the financial aspects of these transactions and the entire land acquisition process.

The search operation continued for more than three days at premises located in New Delhi and SAS Nagar. During the searches, several records relating to alleged irregularities and unlawful activities in other projects also came to light. The ED is examining these records further.

During the searches, dozens of project-related records and files, along with digital devices, computers, hard disks and servers, were seized. The ED also identified and seized certain luxury vehicles as proceeds of crime.

According to the ED, the examination of the seized documents, digital devices and identified assets, as well as the financial affairs of the TDI Group companies, is ongoing. Further action in the case will be taken based on the progress of the investigation and the facts that emerge from the examination of the seized material.

---------------

Hindusthan Samachar / Jun Sarkar