ED summons GMADA Chief in Rs 150-crore Suntec City–Altus CLU fraud probe
Babushahi Bureau
Mohali (Punjab), May 17, 20276: The Enforcement Directorate has summoned the Chief Administrator of Greater Mohali Area Development Authority (GMADA) in connection with an alleged Rs 150-crore money laundering and Change of Land Use (CLU) fraud linked to the Suntec City and Altus Space Builders projects in Mohali.
According to The Tribune report, the ED’s Jalandhar Zonal Office has asked the GMADA chief or an authorised gazetted officer to appear before investigators and provide records related to approvals granted to Altus Space Builders Pvt Ltd.
The agency is investigating alleged irregularities in CLU permissions, suspected forged landowner consent letters, and claims that homebuyers were misled in major real estate projects in Greater Mohali.
The ED recently conducted raids across Mohali, Chandigarh, New Chandigarh and Patiala, recovering around Rs 1 crore in cash and several documents linked to the probe.
Investigators are also examining the role of certain GMADA officials in granting approvals and reviewing financial transactions between the builders and the authority.
The case is based on two FIRs registered by Punjab Police involving alleged land fraud, illegal project approvals and failure to hand over promised properties to buyers.