A day after the Punjab housing and urban development department revoked concessions worth nearly ₹ 40 crore granted to Delhi-based Remigate Buildestates (India) Pvt Ltd, the Enforcement Directorate (ED) on Saturday arrested the company’s promoter, Jagmohan Garg, in connection with its money-laundering investigation into alleged irregularities in land dealings and the waiver of dues by the Greater Mohali Area Development Authority (GMADA).
The federal agency arrested Garg from Delhi’s Indira Gandhi International Airport and produced him court, which remanded him to seven-day ED custody.
The ED’s investigation has extended to officials involved in the allotment, engineering assessments and the subsequent waiver of dues. In August, the agency summoned three GMADA officials—chief engineer Ajay Garg, former chief engineer Sunil Kansal and then land acquisition officer Hardeep Singh—to furnish records and documentary evidence under the Prevention of Money Laundering Act (PMLA).
Officials said ED will summon more officers linked to the allotment and waiver.
The arrest comes amid an intensifying probe into the allotment of a prime commercial site in Sector 62, Mohali, and the subsequent concessions granted to the company by GMADA. The case concerns a 1.13-acre food court site in Sector 62, auctioned to Remigate for ₹ 32.50 crore in September 2015. The company initially deposited 20% of the sale consideration and subsequently paid an instalment of ₹ 9.87 crore.
Remigate is a linked company (shared ownership) controlled by the promoters of Tirupati Infraprojects Pvt Ltd, officials familiar with the investigation said.
