The Enforcement Directorate (ED) on Tuesday conducted search operations under the Prevention of Money Laundering Act (PMLA) at multiple premises linked to M/s Chandigarh Royale City Promoters Pvt Ltd (CRCPL) and the Royale Estate Group in Chandigarh, Zirakpur, and other parts of Punjab.
The raids were carried out at the group’s head office located on the Chandigarh-Delhi Highway in Zirakpur and at residential premises connected with its directors and associates.
The ED case stems from an FIR registered on July 19, 2025, by the Punjab Police in SAS Nagar under Sections 406, 420 and 120-B of the IPC. The police case pertains to alleged fraud and criminal conspiracy involving deliberate default in payment of statutory liabilities to the Greater Mohali Area Development Authority (GMADA) and submission of dishonoured cheques amounting to approximately Rs 32.67 crore. The residential colony project was being developed by CRCPL at Karala village in Mohali.
During the investigation, the ED found that the company had substantial outstanding liabilities towards GMADA, while project funds were allegedly diverted and routed through connected entities and related parties. Officials said suspicious inter-company transactions and layering of funds through entities linked to the Royale Estate Group were also detected.
Searches were conducted at the premises linked with Praveen Kansal, alias Rocky, Neeraj Kansal, Daljit Singh, Anurag Midha, Liaqat Ali, Sumit Bansal and other connected persons and entities. Various incriminating documents, digital devices, financial records and property-related papers were seized during the operations.
The development comes amid growing scrutiny of real estate projects in the Mohali-Zirakpur belt over delays, financial irregularities and defaults to development authorities.
