States » NorthPosted at: Nov 6 2026 9:54PM


ED alleges former Punjab minister favoured developers in industrial land deals, son acquired company stakes

By Neeraj Bali
Chandigarh, Nov 6 (UNI) Enforcement Directorate (ED) has accused former Punjab industries and commerce minister Sunder Sham Arora of extending undue favours to property developers in industrial land transactions and acquiring stakes in real estate companies through his son, as part of a money-laundering investigation.
The central agency said today it had searched 14 premises across Punjab and Chandigarh on November 2 and 3, targeting properties linked to Arora, his son Parteek Arora and their business associates.
The searches covered Arora's residence and Shivam Hospital in Hoshiarpur, besides premises associated with SRG Builders and Promoters, GRG Developers and Promoters and Gulmohar Township in Chandigarh and Mohali.
The ED alleged that Arora, who served as industries and commerce minister between March 2017 and September 2021, used his position to benefit private developers in transactions involving the Punjab Small Industries and Export Corporation (PSIEC).
"During this period, he extended undue favours to private real estate players in the transfer of high-value PSIEC industrial plots and, in return, acquired stakes in real estate entities in the name of his son Parteek Arora," the agency said.
A major transaction under investigation involves industrial plot A-32 in Mohali's Phase 8, originally allotted to the now-bankrupt JCT Electronics.
The property was transferred to GRG Developers and Promoters LLP for Rs 90.56 crore through an auction conducted by asset reconstruction company ARCIL in February 2020.
According to the ED, PSIEC was entitled to 50 per cent of the sale value as an unearned increase, besides enhanced land costs and transfer charges, but the dues were not fully paid.
The agency alleged that the lease deed was not cancelled and the plot was not recovered even after a tripartite agreement involving PSIEC, ARCIL and GRG was cancelled in August 2021.
It said Arora approved proposals relating to the calculation of outstanding charges, while banking records indicated investments linked to the transaction through his son.
Investigators found that Parteek Arora acquired a 35 pc shareholding in SRG Builders and Promoters Pvt Ltd in September 2020. The company was associated with Deepak Garg and his brother Devi Dayal Garg, who were also linked to GRG Developers.
The ED alleged that the industrial plot was subdivided and sold to third parties before possession and mandatory approvals from PSIEC and the Real Estate Regulatory Authority were obtained.
In a separate transaction, the agency identified payments totalling Rs 27.5 crore made by Gulmohar Township India Pvt Ltd to Signify Innovations India Ltd before a sale agreement was executed in October 2020.
It said Sanjeev Kumar Juneja, described as a close associate of Gulmohar Township director Jagdeep Singh, transferred approximately Rs 28.65 crore to the company between August 2020 and February 2021.
The Gulmohar Township transaction had previously figured in a Punjab Vigilance Bureau investigation.
In December 2024, the Punjab and Haryana High Court quashed a 2023 Vigilance Bureau FIR concerning alleged irregularities in the subdivision of an industrial plot linked to the project.
The ED's latest statement did not explain how that ruling affected its money-laundering investigation.
The agency said its investigation originated from a Vigilance Bureau case involving allegations of disproportionate assets and an attempt by Arora to bribe a senior officer with Rs 1 crore to settle pending inquiries.
Investigators seized mobile phones, property records and digital devices during the searches and froze bank lockers, the ED said.
The allegations remain under investigation and have not been established in court.
UNI NB SS
Tags: #ED alleges former Punjab minister favoured developers in industrial land deals# son acquired company stakes
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