New Delhi, Sept. 22 -- The Enforcement Directorate on Tuesday searched 26 premises across Delhi, Chandigarh, Mohali, Panchkula and Ludhiana in a money-laundering probe into alleged irregularities involving GMADA and real estate firms in land deals.
The searches, under the Prevention of Money Laundering Act, relate to Tirupati Infraprojects Pvt Ltd and other companies. The agency also searched GMADA and Punjab Housing and Urban Development Department offices to collect evidence.
The ED is probing alleged irregularities in GMADA auctions and waivers or reductions in external development charges and interest. It alleged that promoters of Tirupati Infraprojects controlled two firms that secured prime auction sites and received substantial payment relief.
Published by HT Digital Content Services with permission from Millennium Post.