New Delhi, May 26 (H.S.): The Enforcement Directorate (ED) has conducted raids at multiple premises linked to the Royal Estate Group and its associated companies and individuals in Punjab and Chandigarh in connection with an alleged Rs 32.67 crore fraud, cheque bounce, and money laundering case. The action was carried out against Chandigarh Royal City Promoters Private Limited (CRCPL) and persons associated with it.
According to the ED, the case is based on an FIR registered by Punjab Police at SAS Nagar on July 19, 2025. The search operation was conducted at several premises in Punjab and Chandigarh, including the main office of the Royal Estate Group located in Zirakpur.
The FIR was registered under Sections 406, 420, and 120-B of the Indian Penal Code. It alleges that the directors of CRCPL and related individuals defaulted on statutory payments due to the Greater Mohali Area Development Authority (GMADA) and issued bounced cheques amounting to nearly Rs 32.67 crore. The matter is linked to a residential colony project situated in Karala village of SAS Nagar.
According to the ED, the investigation revealed that substantial liabilities towards GMADA were pending against the company, while funds related to the project were allegedly diverted through associated companies and parties. The investigating agency also found indications of suspicious financial transactions and layering of funds among companies linked to the Royal Estate Group.
During the search operation, premises associated with Praveen Kansal alias Rocky, Neeraj Kansal, Daljit Singh, Anurag Midha, Liaqat Ali, Sumit Bansal, and other related individuals and entities were also searched. Several incriminating documents, digital devices, financial records, and property-related papers were recovered and seized during the operation.
The ED stated that further investigation into the matter is currently underway.
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Hindusthan Samachar / Jun Sarkar
