The Enforcement Directorate (ED) has initiated search operations at 26 places across Delhi, Mohali, Chandigarh, Panchkula and Ludhiana in a case related to M/S Tirupati Infra Projects Pvt Ltd.
The operations are being carried out under the Prevention of Money Laundering Act. The agency said that the action has been taken against the promoters, directors, and other associates of likewise private firms under bank fraud cases. According to ED, the M/S Tirupati Infra Projects Pvt Ltd has been involved in a bank fraud worth 290 crore rupees in relation to a project.
The agency also conducted simultaneous surveys at the offices of Greater Mohali Area Development Authority (GMADA) and Punjab government’s Department of Housing and Urban Development, to gather evidence regarding the accused entities from GMADA. ED said that during the investigation it was revealed that a private consultancy firm acted in close association with the GMADA officials facilitating irregularities in land acquisition. Further investigation in the matter is currently underway.
