Under the terms of the Prevention of Money-laundering Act (PMLA), 2002, the Directorate of Enforcement (ED) has temporarily attached properties worth Rs. 70.15 crores belonging to Gurinder Singh and his wife. A total of 27 immovable assets in Punjab and Chandigarh are included in the attachment.
The inquiry was launched by the ED based on FIRs filed under different sections of the IPC and PC Act, as well as Challans. It was claimed that Detailed Notices Inviting Tenders (DNITs) for several irrigation project works in Punjab were tailor-made with Gurinder Singh Contractor’s qualifying parameters in mind. Furthermore, many anomalies in the allocation and implementation of such project work to favour Gurinder Singh were observed, resulting in a massive loss to the government exchequer.
In this regard, the ED had begun its investigation in accordance with the provisions of the PMLA, and it had initially identified movable properties (in the form of bank balances) beneficially owned by Gurinder Singh, which were found to be a part of Proceeds of Crime acquired and possessed by Gurinder Singh as a result of the commission of a scheduled offence. As a result, such bank accounts totalling around Rs 41.50 crore were provisionally attached.
The ED inquiry further found that the proceeds of crime earned and gained by Gurinder Singh are available in the form of numerous immovable assets. As a result, the current provisional attachment for Rs. 70.15 crore is issued. So far, the total POC found and attached in this case is around Rs 112 Crore. This topic is being investigated further.
