Amid an ongoing Enforcement Directorate (ED) probe into the allotment of a prime commercial site in Mohali to Delhi-based builder Remigate Buildestates (India) Private Limited and the subsequent waiver of dues, the Punjab housing and urban development department has revoked concessions worth nearly ₹ 40 crore granted to the company, over eight months after the relief was approved.
The inquiry covers the allotment, engineering assessments and the subsequent waiver of dues. In August, the agency’s Delhi office summoned three GMADA officers — chief engineer Ajay Garg, former chief engineer Sunil Kansal and then land acquisition officer Hardeep Singh — to furnish records and documentary evidence in connection with the investigation under the Prevention of Money Laundering Act, 2002.
During the investigation, the agency alleged that manipulation of reserve prices for unsold land parcels could have caused a potential loss of nearly ₹ 10,000 crore to GMADA and the Punjab government. 1.13-acre food court site allotted in 2015 The case pertains to the allotment of a 1.13-acre food court site in Sector 62, Mohali, to Remigate for ₹ 32.50 crore through an auction in September 2015. The company initially deposited 20% of the total cost and subsequently paid an instalment of ₹ 9.87 crore.
The case has also come under wider scrutiny following the ED’s three-day search operation at GMADA office last month. It must communicate an itemised statement to the company within two weeks, following which the company will have one month to clear the dues. Failure to pay could lead to proceedings for resumption of the site and forfeiture, subject to statutory notice and a reasonable opportunity of hearing.
