A special PMLA court in Panchkula has sent Chandigarh-based property dealer Vikram Wadhwa to four days of ED custody in a money laundering case linked to the alleged embezzlement of Rs 845 crore. (File Photo)
A special court under the Prevention of Money Laundering Act (PMLA), Panchkula, on Friday sent Chandigarh-based property dealer and real-estate developer Vikram Wadhwa to Enforcement Directorate (ED) custody, for four days, till June 2. This is in connection with a ‘money laundering’ case linked to the embezzlement of public funds from multiple government departments and entities in Haryana.
The ED, seeking seven days of custodial interrogation, told the court the investigation had revealed a large-scale diversion of public funds through forged fixed deposits, shell entities and fraudulent banking transactions.
The agency submitted before the court that “the analysis of the structured and deliberate movement of funds, which ultimately facilitated the embezzlement and misappropriation of government money to the tune of approximately Rs 845 crores. The nature, frequency and routing of these credit and debit transactions strongly suggest a systematic mechanism adopted for siphoning off public funds”.
It also alleged that various bank records, KYC documents and transaction details were examined during the investigation. It was found that the government funds were diverted through multiple accounts maintained in the names of departments, boards, corporations and other public entities, the agency claimed.
According to the ED, an amount of approximately Rs 645 crore was siphoned from the accounts of entities including the Haryana Rural Development Fund Administration Board, Haryana School Shiksha Pariyojna Parishad, Haryana Labour Welfare Board, Haryana State Pollution Control Board, Municipal Corporation Panchkula, Municipal Council Kalka, Haryana State Agricultural Marketing Board, Haryana Power Generation Corporation Limited and Chandigarh Renewable Energy and Science & Technology Promotion Society.
Regarding Wadhwa’s alleged role, the ED said the investigation had revealed he was “one of the major beneficiaries of the proceeds of crime generated from the embezzlement of funds from the bank accounts…”
The agency claimed that Wadhwa received “an amount of Rs 70.73 crores approximately through banking channels…”.
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Wadhwa utilised the proceeds for purchasing four immovable properties during 2025-26, including properties in Chandigarh, Mohali and Amritsar, the ED alleged. The agency also claimed that the funds generated through the alleged fraud were layered and concealed through shell entities and associates.
The defence counsel, Vishal Garg Narwana, opposed the ED’s plea for seven-day custody and argued that the case is based entirely on documentary evidence and “nothing is to be asked from Vikram Wadhwa”.
Narwana contended that the ED had not provided adequate reasons for arresting the accused and opposed the request for extended custodial interrogation.
However, in its application, the ED maintained that custodial interrogation was necessary to “unearth the entire modus operandi adopted for generation of proceeds of crime”, identify ultimate beneficiaries, trace the flow of funds and ascertain the utilisation of the alleged proceeds of crime.
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The court partly allowed the ED’s application and granted four days of custodial interrogation.
Wadhwa will now be produced before the court again on June 2.
Jagpreet Singh Sandhu is a Senior Correspondent at The Indian Express, based in Chandigarh. He is a veteran reporter with over a decade of experience, specializing in legal, crime, and environmental reporting across the tri-city area (Chandigarh, Mohali, and Panchkula).
Professional Background
Core Beat: He primarily covers the Punjab and Haryana High Court, District Courts, CBI Courts, and Consumer Commissions. His legal reporting is known for breaking down complex judgments and tracking long-standing criminal cases.
Environmental Reporting: Jagpreet has become a key voice in reporting on the deteriorating air quality and weather patterns in the Punjab-Haryana region.
Crime & Technology: He frequently reports on cybercrime, digital arrest scams, and the intersection of technology and law enforcement, such as the development of citizen-centric policing apps.
Recent Notable Articles (Late 2025)
His late 2025 coverage has focused on significant judicial verdicts, major financial scams, and public health concerns:
1. Legal & CBI Court Verdicts
"12 years on, CBI court acquits Haryana judge, parents in wife’s death case" (Dec 17, 2025): Detailed coverage of the acquittal of a judicial officer in a high-profile dowry death case from 2013.
"‘Wicked & evil mind’: Court gives man 30-year term for kidnapping, sexually assaulting 8-year-old" (Dec 16, 2025): A report on a stern judgment from a Chandigarh district court in a POCSO case.
"Man acquitted in rape case after victim found ‘very happy’ in wedding reception" (Dec 9, 2025): Covering a unique legal observation regarding consensual relationships and age verification.
2. Investigative & Scams
"CBI registers FIR in Rs 1.14-cr Patient Welfare Grant scam at PGIMER" (Dec 19, 2025): An exposé on how funds meant for poor patients were siphoned off through forged documents and a photocopy shop inside the PGIMER campus.
"Month-long torture, Rs 85 lakh transfers: How ‘Innocence Certificate’ led to a ‘digital arrest’ of an elderly couple" (Dec 12, 2025): Detailing a sophisticated cyber fraud targeting senior citizens in Chandigarh.
3. Environment & Public Safety
"Panchkula air turns ‘very poor’, fourth worst in country" (Dec 22, 2025): Reporting on the sudden spike in pollution levels in Panchkula compared to neighbouring cities.
"Soon, you can snap that overspeeding car, and report to Chandigarh Police" (Dec 16, 2025): Breaking news on a new mobile application being developed to allow citizens to report traffic violations via geo-tagged photos.
4. Gangster Culture & Crime
"City Beautiful in the crosshairs of gangsters" (Dec 14, 2025): A feature analysis of how Chandigarh has increasingly become a staging ground for extortion and rivalries between gangster modules.
"Shooters wanted for Parry murder held by Delhi Police Special Cell" (Dec 18, 2025): Following the developments in a high-profile murder case in Chandigarh’s Sector 26.
Signature Style
Jagpreet is recognized for his tenacious follow-up on cold cases and his ability to report on courtroom drama with a focus on victim rights. His work often highlights administrative lapses, whether in the handling of patient welfare funds or the enforcement of environmental standards. ... Read More
