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Journalism of Courage
The Enforcement Directorate (ED) has provisionally attached property worth Rs 54.16 lakh in a Prevention of Money Laundering Act (PMLA) case involving Bajwa Developers Limited and others.
The attached movable property was seized during a search conducted on the residential premises of Jarnail Singh Bajwa, Managing Director, Bajwa Developers Limited, in Mohali, Punjab.
The ED initiated its investigation based on FIRs registered by the Punjab Police against Jarnail Singh Bajwa for cheating, fraud, extortion, misrepresentation of facts to property buyers, and frequent changing of plot numbers without knowledge of parties to ‘Agreement to Sale’, among others.
The ED investigation revealed that Jarnail Singh Bajwa purportedly induced prospective property buyers to purchase plots/properties in prime areas of the city with false promises and managed to collect Rs. 3.17 crore.
However, actual plots were never delivered to customers at the sites agreed on, and even the amount received by the accused was not returned. Money received from the property buyers was allegedly used in various other projects of Bajwa Developers Limited.
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