Press Release
29.01.2025
Directorate of Enforcement (ED), Jalandhar has provisionally attached immovable
properties and Bank balances worth Rs. 5.58 Crore on 27.01.2025 belonging to Ludhiana
Improvement Trust (LIT) Officials viz. Raman Bala Subramaniam, the then Chairman of LIT,
Smt. Kuljit Kaur, Executive Officer and others, & New Senior Secondary School Society
Sarabha Nagar, Ludhiana under the provisions of Prevention of Money Laundering Act
(PMLA), 2002.
ED initiated investigation on the basis of 02 FIRs registered by Vigilance Bureau,
Ludhiana under various section of IPC, 1860 and Prevention of Corruption Act, 1988.
ED investigation revealed that the officials of Ludhiana Improvement Trust (LIT) in
connivance with private persons had allotted favorable plots to individuals, allotted plots to a
few ineligible persons/entities, extended illicit waiver of Non-Construction Fees and averted
action on violations of conditions of allotment in lieu of bribe taken against the same.
ED investigation further revealed that Proceeds of Crime (POC) generated through
criminal activities was deposited in bank accounts and invested in immovable properties.
Earlier, on 24.08.2023 searches were conducted at six locations and an amount of Rs.
31 Lakh (approx.) was seized/ freezed under the provisions of Section 17 PMLA, 2002.
Further investigation is under progress.
Brief
"On "29/01/2025", the "Enforcement Directorate (ED)" issued an update regarding "ED, Jalandhar has provisionally attached immovable properties and Bank balances worth Rs. 5.58 Crore on 27.01.2025 belonging to Ludhiana Improvement Trust (LIT) Officials viz. Raman Bala Subramaniam, the then Chairman of LIT, Smt. Kuljit Kaur, Executive Officer and others, & New Senior Secondary School Society Sarabha Nagar, Ludhiana under the provisions of PMLA, 2002". The provisional attachment was made based on ED's investigation into allegations of corruption and money laundering against LIT officials, which revealed embezzlement of public funds and misuse of authority. "
Highlights content goes here...
Purpose
The Directorate of Enforcement (ED), Jalandhar, has taken a significant step to curb corruption by provisionally attaching immovable properties and bank balances worth Rs. 5.58 Crore on January 27, 2025. This action is aimed at recovering proceeds of crime generated through corrupt activities involving officials of the Ludhiana Improvement Trust (LIT) and private individuals. The ED’s investigation was initiated based on two FIRs registered by the Vigilance Bureau, Ludhiana, under various sections of the Indian Penal Code (IPC), 1860, and the Prevention of Corruption Act, 1988.
Effects on Industry
The provisional attachment of properties and bank balances worth Rs. 5.58 Crore is likely to have a significant impact on the real estate sector in Ludhiana. The ED’s investigation has revealed widespread corruption and irregularities in plot allotments by LIT officials, which may lead to a loss of public trust in the government’s ability to manage land deals fairly. This development could also set a precedent for other government agencies to investigate similar cases of corruption and asset mismanagement.
Relevant Stakeholders
The stakeholders affected by this development include:
- Government officials: The ED’s action highlights the need for greater accountability among government officials, particularly those involved in managing public assets like land.
- Private individuals: Those who have benefited from corrupt practices involving LIT officials may face financial repercussions as a result of the provisional attachment.
- Homebuyers and investors: The investigation’s findings may raise concerns about the legitimacy of plot allotments and the potential for future irregularities.
Next Steps
The next steps in this matter will involve further investigation by the ED to determine the extent of corruption and identify those responsible. This may include:
- Additional searches and seizures
- Further questioning of officials and private individuals involved
- Analysis of financial transactions to trace proceeds of crime
- Potential prosecution of those found guilty under relevant laws
Any Other Relevant Information
The ED’s investigation has already led to the seizure of Rs. 31 Lakh in August 2023, indicating the scope of corruption uncovered so far. The provisional attachment of properties and bank balances worth Rs. 5.58 Crore on January 27, 2025, further highlights the seriousness with which the government is tackling this issue.
