SNE NETWORK.JALANDHAR/CHANDIGARH.
The Jalandhar Zonal Office of the Enforcement Directorate (ED) has taken major action in a case related to alleged illegal industrial plot allotment and money laundering at the Punjab Small Industries and Export Corporation (PSIEC). The ED conducted searches at 11 locations in Punjab and Chandigarh for three consecutive days on August 4, 5, and 6, 2026. The operations were carried out under the PMLA, 2002.
Unaccounted cash worth ₹12.15 lakh, several incriminating documents, and digital devices recovered
During the searches, ED teams recovered and seized unaccounted cash worth ₹12.15 lakh, several incriminating documents, and digital devices. Additionally, approximately ₹4.01 crore in bank accounts belonging to two retired senior officials of PSIEC has been frozen. According to the ED, the searches were conducted at 11 premises located in Chandigarh, Amritsar, Gurdaspur, and Ludhiana. The agency also conducted a survey of the PSIEC office. During the operation, important documents and digital devices were recovered from various premises. These include devices containing digital data, which are being examined to uncover evidence related to alleged transactions and plot allotments.
Alleged Violation of Rules and Procedures
According to the ED investigation, some PSIEC officials are accused of allotting industrial plots to their relatives, friends, and other close associates in violation of rules and procedures. The investigation also revealed that some applicants obtained industrial plots using fake firms and fake addresses. According to the ED, some of these entities lacked experience or knowledge of actual industrial activities.
Allegations of Profit Making by Further Selling Plots
The ED investigation also reportedly revealed that some industrial plots were allotted in the names of shell entities and fake firms and were subsequently sold to third parties at market prices. According to the investigating agency, in some cases, evidence has been found that plots allotted for industrial use were later diverted for residential or commercial plotting.
₹4.01 crore frozen
The ED has frozen approximately ₹4.01 crore in bank accounts belonging to two retired PSIEC officials. These officials are retired CGM Surinder Pal Singh and retired GM Jaswinder Singh Randhawa. In addition, ₹12.15 lakh in cash has been seized from various locations. During the searches, the ED seized several important documents and digital devices. These are being used to gather information about alleged plot allotments, financial transactions, and connections between the individuals involved. The digital material may be subject to further investigation and forensic analysis.###USA###UK###CANADA###ED-RAID-AT=JALANDHAR###PUNJAB###CHANDIGARH###INDIA###AUSTRALIA###GERMANY###IRELAND###SWEDEN###EUROPE###CHINA###HUNGRY###FRANCE###ITLAY###ROME###RUSSIA###UKRAINE###VIETNAM###SINGAPORE###@