Ludhiana, April 3 -- The Greater Mohali Area Development Authority (GMADA) has raised a Rs.2,500 crore loan from various development authorities across Punjab, citing the need to fund ongoing development projects and land acquisitions.

An official communication issued on Wednesday directed multiple authorities, including the Greater Ludhiana Area Development Authority (GLADA), Jalandhar Development Authority, Amritsar Development Authority, Patiala Development Authority and the Punjab Urban Planning and Development Authority (PUDA), to transfer funds by 2 pm on Thursday.

According to a document, a copy of which is with HT, GLADA alone is contributing Rs.1,000 crore, largely from its fixed deposits, while other authorities have also been...