The Enforcement Directorate (ED) launched raids across nearly a dozen locations in Chandigarh and Mohali on Thursday morning, tightening its grip on several high-profile builders allegedly linked to a major financial fraud case.
The Enforcement Directorate (ED) launched raids across nearly a dozen locations in Chandigarh and Mohali on Thursday morning, tightening its grip on several high-profile builders allegedly linked to a major financial fraud case.
Multiple ED teams conducted simultaneous searches under heavy security cover. The high-voltage operation took a dramatic turn in Mohali when chaos reportedly erupted at one of the raided buildings.
According to eyewitnesses, bags allegedly stuffed with Rs 500 currency notes were thrown from the ninth floor during the raid. Locals claimed they saw bundles of cash raining down from the building as the ED teams carried out searches inside.
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A video circulating from the spot purportedly shows two bags filled with cash lying on the ground, while bundles of Rs 500 notes are seen scattered nearby. Preliminary estimates suggest the recovered cash could amount to nearly Rs 25 lakh.
Sources revealed that the ED action is linked to an alleged large-scale scam involving the acquisition of Change of Land Use (CLU) licences from the Greater Mohali Area Development Authority (GMADA). The case also pertains to allegations that members of the public were cheated of hundreds of crores of rupees through suspected fraudulent dealings.
The raids were reportedly initiated after the central agency received multiple complaints related to the matter.
During the operation, ED officials closely examined documents, financial records, property papers and suspected illegal transactions connected to the case. Authorities are now expected to intensify scrutiny as investigators piece together the alleged money trail.
The ED is yet to release an official detailed statement on the raids.
