Mohali, Aug. 19 -- A local court on Tuesday dismissed the bail plea of Ajay Sehgal, secretary of the Indian Cooperative House Building Society, in a money-laundering case linked to the Suntec City project in New Chandigarh.

Rejecting the plea, additional sessions judge Hardip Singh held that Sehgal failed to satisfy the mandatory conditions for bail under Section 45 of the Prevention of Money Laundering Act (PMLA). The court also noted serious allegations that Sehgal generated and possessed proceeds of crime and routed or siphoned the money to shield it.

He was arrested by the Enforcement Directorate (ED) on May 22, 2026 after raids at multiple locations in Mohali, Chandigarh and other parts of Punjab. During the searches, ED officials ...