Mohali: ED Summons Gmada Chief Administrator in ₹150 Crore Money Laundering Probe

Mohali, May 18: The ED has summoned the Gmada chief administrator to appear on Monday regarding a ₹150 crore money laundering probe centered on alleged irregularities in land use approvals for Suntec City and Altus Space Builders projects.

Investigation Focus

The probe involves alleged irregularities in the change of land use (CLU) approvals granted to two major real estate projects — Suntec City and Altus Space Builders Private Limited. The ED notice requires the chief administrator, or an authorised representative of at least gazetted rank, to present records and evidence at the Jalandhar office.

Legal Proceedings

These proceedings, held under Section 50 of the Prevention of Money Laundering Act (PMLA), are judicial in nature. Officials have warned that failure to comply will result in strict legal action under the PMLA (2002) and the Bharatiya Nagarik Suraksha Sanhita (BNS) (2023).

Documents Demanded

As part of the inquiry, the ED has demanded the complete file of all approvals granted to Altus Space Builders, a list of all officials involved in the approval process for these projects, and full details of all financial transactions between Altus Space Builders and Gmada.

Previous Raids

This summons follows a series of raids conducted on May 8 at 12 locations across Mohali, Chandigarh, and Patiala. Those targeted included the Indian Cooperative Housing Building Society (promoters of Suntec City), its office-bearers, Altus Space Builders, ABS Townships, Dheer Constructions, and various intermediaries.