NEW DELHI: The Enforcement Directorate on Tuesday conducted extensive searches at multiple locations in Punjab and Chandigarh in connection with an alleged fraud and money laundering case linked to Chandigarh Royale City Promoters Pvt Ltd and the Royale Estate Group, officials said.The searches were carried out by the Chandigarh Zonal Office-I of the Enforcement Directorate under the provisions of the Prevention of Money Laundering Act (PMLA).Officials familiar with the matter told ANI that raids were conducted at multiple premises associated with the group, including the main office of the Royale Estate Group situated on the Chandigarh-Delhi Highway in Zirakpur.The action stemmed from an Enforcement Directorate investigation launched on the basis of a case registered by the Punjab Police on July 19, 2025, against the directors and associates of Chandigarh Royale City Promoters Pvt Ltd.The case pertains to alleged fraud and criminal conspiracy involving the wilful default of statutory dues payable to the Greater Mohali Area Development Authority and the submission of dishonoured cheques worth nearly Rs 32.67 crore linked to a residential colony project in Village Karala, SAS Nagar, Punjab. Investigators suspect that funds collected for the housing project were diverted through a network of associated entities and related parties. The ED also flagged suspicious inter-company transactions and alleged layering of funds linked to entities associated with the Royale Estate Group.Officials said the searches were conducted at several residential premises linked to individuals, including Praveen Kansal alias Rocky, Neeraj Kansal, Daljit Singh, Anurag Midha, Liaqat Ali and Sumit Bansal, among others.During the raids, investigators allegedly recovered multiple incriminating documents, digital devices, financial records and property-related papers, which are expected to assist in the ongoing probe.The Enforcement Directorate said the investigation is still underway and more details are likely to emerge after examination of the seized material.(With agency inputs)
