₹348cr fake CLU scam: ED challan names Mohali realtor as ‘mastermind’

ED filed a chargesheet against Mohali realtor Ajay Sehgal for money laundering in a ₹348 crore CLU scam.

Sehgal allegedly obtained CLUs for 108.58 acres of agricultural land using fake consent letters for the Suntech City project.

Based on those letters, GMADA issued a licence and RERA registration was obtained for the project.

Sehgal failed to transfer EWS land to GMADA and sold units before RERA registration, violating licence conditions.

Sehgal was arrested on May 22 and is accused of being the 'mastermind' behind generating and concealing proceeds of crime.