FDR worth Rs 7 cr, cash and currency seized by ED during raids on Pehalwan and his associates | Ludhiana News
During the action, the agency’s detectives found Rs 10 lakhs in cash and foreign currency, in addition to bank records and FDs of around Rs 7 cr were found. Notably in Ludhiana, the residential and business premises of prominent businessman Gurdeep Singh of Jhujhar Transport Group and Fastway Group were covered by ED, sources claimed that although none of the seizures were made on him. , but that some monetary transactions from Pehalwan to Singh’s companies were allegedly found. by the agency.
A senior source familiar with the investigation said: âA search operation took place at various premises in Ludhiana, Mohali, Chandigarh and Nawanshahar on November 25, 2021 in which the residential and commercial premises of Surinder Pal Singh Pehalwan, his partners as well as the premises of Gurdeep Singh Jujhar and the main business premises of the companies he controls in connection with the said case against Surinder Pal Singh and others under the Prevention of Money Laundering Act (PMLA) have been covered. . to the registered FIR and to the accusation filed by Vigilance Bureau, Punjab against Surinder Pal Singh and his associates, etc. for abusing his official position by awarding projects worth several rupees to his favorite companies ”
The source also said, âThe bribe money Surinder Pal Singh earned by promoting these businesses was distributed to his bogus businesses on behalf of his family members and close associates. During the investigation by ED, it was also discovered that some of this tainted money from companies owned and controlled by Surinder Pal Singh and / or members of his family also flew to Gurdeep Singh Jujhar. . In total, 8 premises were raided by ED, which led to the seizure of more than Rs 10 lakhs and some foreign currency. Bank records and FDs close to Rs7 Cr found during the search have been frozen by ED. Apart from the above, some incriminated documents, cell phones, etc. were also seized ”