A Mohali court on Saturday sent Ajay Sehgal, promoter of Suntec City and secretary of Indian Cooperative House Building Society, to four-day Enforcement Directorate remand till May 27 in a money laundering case.
The prosecution sought police remand to investigate the documentary evidence and establish a money trail in the case while the defence side pleaded that all the documents are in the possession of ED, therefore remand is not required.
Sehgal was was taken into custody on May 22 by the Jalandhar office of the Enforcement Directorate under the Prevention of Money Laundering Act.
Sehgal was arrested in a money laundering case linked to the submission of fake consent letters for obtaining change of land use from the Punjab Government.
The central agency had raided Sehgal’s premises linked to the Suntec City project in Mohali earlier this month.
Sehgal is alleged to have forged consent letters with respect to 30.5 acres owned by 15 people on the basis of which the accused were granted CLU for developing the project. The role of senior GMADA officials is also being probed.
