Chandigarh/New Delhi: The Enforcement Directorate (ED) has arrested Zirakpur-based realtors Neeraj Kansal and Praveen Kansal in connection with an alleged money laundering case linked to a housing project in Mohali.
According to sources, the two were arrested in Delhi following an investigation into alleged financial irregularities and cheque dishonour cases associated with a real estate venture in Punjab.
The arrests come after the ED conducted multiple searches under the Prevention of Money Laundering Act (PMLA) at properties linked to M/s Chandigarh Royale City Promoters Pvt Ltd (CRCPL) and the Royale Estate Group across Chandigarh, Zirakpur and other locations in Punjab. Search operations were carried out at the group’s Zirakpur headquarters and several associated premises.
The ED investigation stems from a Punjab Police FIR registered in SAS Nagar (Mohali) on July 19, 2025, under Sections 406 (criminal breach of trust), 420 (cheating), and 120-B (criminal conspiracy) of the Indian Penal Code.
According to investigators, the case relates to allegations of cheating, criminal conspiracy and failure to make statutory payments to the Greater Mohali Area Development Authority (GMADA). Authorities have alleged that the company issued dishonoured cheques amounting to Rs 32.67 crore in connection with a residential colony project at Karala village in Mohali.
The ED is examining the flow of funds and the alleged proceeds of crime linked to the project as part of its ongoing money laundering probe.
Further investigation in the case is underway.
