ED Attaches Assets worth Rs. 37.26 Crore of Former Engineer Surinder Pal

Directorate of Enforcement (ED) has provisionally attached assets to the tune of Rs. 37.26 Crore, belonging to Surinder Pal Singh @ Pehalwan, his family, entities incorporated through family members of Surinder Pal Singh and associates, under the provisions of the Prevention of Money-laundering Act (PMLA), 2002. The attached assets include 63 immovable properties consisting of parcels of land and buildings in various districts of Punjab. These properties pertain to 03 companies associated with Surinder Pal Singh & his family members and certain other properties registered in name of other closely associated entities/ individuals.

The assets attached also include movable properties in the form of balances available in several bank accounts pertaining to Surinder Pal Singh, his family members and companies managed and controlled under instructions of Surinder Pal Singh @ Pehalwan. ED had initiated investigation on the basis of FIR registered and Charge-sheet filed by Vigilance Bureau, Punjab under various sections of IPC & PC Act.

It was alleged that Surinder Pal Singh, who was posted as Executive Engineer/Superintendent Engineer/Chief Engineer at various offices of Punjab Mandi Board and Greater Mohali Area Development Authority (GMADA), had incorporated several companies through his family members and deposited in the accounts of such companies huge quantum of funds earned by him through illicit means. He misused his official position and allotted multi-crore projects to his favored firms/companies thereby ensuring illegal monetary gains for himself as well as various other persons belonging to his own family, etc. In this connection, ED had earlier conducted searches under PMLA at various premises connected with Surinder Pal Singh, his associates and others as a result of which proceeds of crime lying in the form of Term Deposits, totaling to Rs. 5.93 Crore were ordered to be frozen.

During investigation conducted by ED, Surinder Pal Singh @ Pehalwan and his family members and associates were not able to prove the genuineness of the business/financial transactions of such companies incorporated by Surinder Pal Singh in name of his family members, which clearly established the fact that the companies were floated only with the purpose to launder the illicit income of Surinder Pal Singh earned by misuse of his official position in government of Punjab. Also, no supporting documents were ever submitted by them during investigation with regards to huge cash deposits in the bank accounts of the companies managed and controlled by Surinder Pal Singh. Moreover, during investigation, certain properties were found to be purchased directly in cash in the name of such companies. Further investigation in this matter is in progress.

Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates