Ludhiana: ED seizes FDR worth Rs 7 crore, cash and foreign currency | Ludhiana News
ED detectives seized Rs 10 lakhs in Indian currency and some foreign currency, in addition to bank records and FDRs of around Rs 7 crore.
LUDHIANA: The Directorate of Enforcement (ED) search operation in several locations under the Punjab Money Laundering Prevention Act, including five premises in Ludhiana, ended on Thursday evening.
ED detectives seized Rs 10 lakhs in Indian currency and some foreign currency, in addition to bank records and FDRs of around Rs 7 crore. The assets were frozen by the ED.
In Ludhiana, the ED raided the residential and business premises of prominent businessman Gurdeep Singh of the Jhujhar Transport Group and the Fastway Group. Sources claimed that none of the seizures had been made on him, but the teams found monetary transactions from Surinder Pal Singh Pahalwan, a former chief engineer of the Punjab Mandi Board and the Greater Mohali Area Development Authority, at his companies.
A senior source familiar with the investigation said: “A search operation was carried out on various premises in Ludhiana, Mohali, Chandigarh and Nawanshahar on November 25, 2021, at the residential and commercial premises of Surinder Pal Singh Pehalwan, his partners and even the residential premises of Gurdeep Singh Jujhar and the main business premises of the companies he controls in connection with the said case against Surinder Pal Singh and others under the PMLA (Money Laundering Prevention Act). money) have been covered. The ED had opened a money laundering investigation in April 2021 following an FIR and an indictment filed by the State Vigilance Office against Surinder Pal Singh and his associates …
“The bribe money Surinder Pal Singh earned by promoting these companies has flowed into his bogus companies on behalf of his family members and close associates. During ED’s investigation, it was discovered that some of this tainted money from companies owned and controlled by Surinder Pal Singh and / or members of his family also flew to Gurdeep Singh Jujhar. In total, eight premises were raided by ED, which led to the seizure of more than Rs 10 lakhs and some foreign currency. Bank and FD records of nearly 7 million rupees found during the search were frozen by the emergency service. In addition, some incriminated documents and cell phones among others were also seized, ”added the source.