New Delhi, Nov 26th : Under the Prevention of Money Laundering (PMLA) the Enforcement Directorate conducted a search operation at the premises of the Punjab-based cable operator. Official statements state that the raids were conducted in Ludhiana and Mohali, Chandigarh, Nawanshahr, and Nawanshahr on Thursday at the residential site of Surinder Pal Singh.
Surinder Pal Singh is a former Chief Engineer for the Punjab Mandi Board (GMADA) and Greater Mohali Area Development Authority.His main business premises, M/s Jhujhar Construction and Travels Pvt.M/s Fastway Transmission Pvt Ltd and Ltd were also searched.During searches, large numbers of incriminating documents, digital gadgets, Rs 10.30 Lakhs in Indian currency and foreign currency equivalent to USD 4000 were seized.The ED also seized 5 lockers and FDRs worth Rs 6.70 crore.
Based on an FIR registered and a Vigilance Bureau, Punjab charge-sheet against Surinder Pal Singh and others, the ED initiated a money laundering probe.
In the FIR it was alleged that Singh misused his official position and allotted multi-crore projects to his favoured firms/companies, thereby ensuring illegal monetary gains for himself, his family members and to the companies/firms/entities to which the illegal favours were extended by him.
The ED investigation revealed that Singh’s modus operandi was to create companies in the names of his family members and close associates.
These companies’ bank accounts were used by him to deposit the bribes he received.In an effort to conceal the proceeds of crime, he moved them amongst these bank accounts.
Surinder Pal Singh and his relatives were also connected to Gurdeep Singh Jhujhar, owner of Jhujhar Transport group as well as Fastway group.
The ED stated that further investigation is ongoing.
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