A high-profile money laundering investigation into Punjab’s real estate sector took a dramatic turn on Thursday when bags allegedly filled with cash were thrown from a ninth-floor apartment during an Enforcement Directorate (ED) raid in Mohali.
Residents of Western Towers in Kharar reported scenes of chaos during the early morning operation after two bags containing bundles of Rs. 500 notes were allegedly flung from Flat 906, reportedly linked to IT businessman Nitin Gohal, who is under the ED scanner.
According to eyewitnesses, bundles of currency notes scattered across the society premises after one of the bags burst open on impact. ED officials immediately cordoned off the area and began collecting the cash. Preliminary estimates suggest that around Rs. 20 lakh to Rs. 25 lakh was recovered from the spot.
Sources said the ED action is linked to an alleged large-scale financial fraud involving the acquisition of Change of Land Use (CLU) licences from the Greater Mohali Area Development Authority (GMADA), as well as the alleged cheating of investors of hundreds of crores of rupees.
Investigators are probing the role of several real estate entities, including Suntec City, Altus Builders, ABS Townships, Dhir Constructions, and Ajay Sehgal and Associates. The probe focuses on allegations that developers secured licences through misrepresentation and collusion with officials, enabling them to launch projects and collect large sums from investors while defaulting on licence fees and external development charges owed to GMADA.
Sources further alleged that Nitin Gohal acted as a mediator between defaulting builders and influential political figures to shield developers from regulatory action and recovery proceedings. Investigators suspect he played a key role in coordinating between builders and government officials.
Following searches that lasted several hours, the ED reportedly claimed that realtor Gaurav Dhir of Dhir Constructions was a “close associate” of senior AAP leader and Punjab minister Aman Arora. Arora, who is also the Punjab unit president of the Aam Aadmi Party (AAP), denied any connection with the companies under investigation.
“I have come to know from media reports that my name has figured in ED raids. My entire life was, is and will always be above board. I am not going to be bowed down by such false propaganda,” Arora said.
The ED is also investigating allegations that Dhir, through his firm Suncity Projects, acquired the Altus project for around Rs. 130 crore after allegedly undervaluing it by nearly ₹170 crore in an attempt to facilitate money laundering.
Punjab Chief Minister Bhagwant Mann distanced his government from the raids while addressing the media during his ‘Shukrana Yatra’ in Amritsar. “We have no relation with these raids. The ED officials have come to raid the company of someone there and are doing their work,” Mann said. Responding to questions regarding raids linked to an associate of his officer on special duty, Rajbir Ghuman, the chief minister reiterated that the state government had no involvement in the matter. Mann suggested the investigation pertained to “old matters” and private business dealings, maintaining that the Punjab government remained unconnected to the federal probe.
The ED is now tracing the alleged proceeds of crime to determine whether diverted funds were routed through intermediaries to influential persons and entities as part of a wider money laundering network.
