Punjab ED Raids: Big action by ED in Punjab-Chandigarh; money laundering of 95 crores exposed like this

Punjab ED Raids: The Enforcement Directorate (ED) conducted a major raid at eight locations in Punjab and Chandigarh on Wednesday. This action was taken as part of the money laundering investigation against M/s Wahid Sandhar Sugars Ltd. and its associated companies and individuals. The investigation revealed that a scam of about Rs 95 crore was committed by misusing the exempted land.

According to media reports, this land was given by Maharaja Jagatjeet Singh, the princely state of Kapurthala, in the year 1933 on the condition of running a sugar mill. According to the rules, this land could neither be sold nor mortgaged, but when the mill started operating in the year 2000, the company violated the rules and first mortgaged the land and later sold it.

Huge profits from illegal transactions 

The ED raids have been conducted on the basis of an FIR filed by the Punjab Vigilance Bureau. It is alleged that the company made huge profits from this illegal transaction, while the Punjab government suffered financial losses. The ED is now investigating the money earned from these crimes.

Important documents and digital records

According to the investigating officers, the amount of this scam has reached about Rs 95 crore. ED has seized many important documents and digital records during the raid. The agency believes that there may be more big revelations in this case.

Ownership of land

Local sources say that questions had been raised earlier also regarding the ownership of this land, but now after the ED raid, the matter has come to the fore in a serious manner. Officials are also investigating which other people or officials have been involved in this illegal process. At present, the ED has started questioning the concerned companies and individuals. It is believed that more big action can be seen in the coming days.