ED freezes bizman's bank lockers, Rs 7 crore FDs

Tribune News Service

Jalandhar, November 26

In the Enforcement Directorate (ED) raids conducted at eight locations across Punjab and Chandigarh yesterday, officials today said they had recovered unaccounted cash to the tune of Rs 10 lakh in Indian currency, some foreign currency, documents and mobile phones. Bank lockers and fixed deposits (FDs) worth Rs 7 crore found during the search have been frozen.

The officials said the raids were conducted on the residential premises of businessman Gurdeep Singh Jujhar and offices of companies controlled by him in connection with a probe surrounding former Chief Engineer of Greater Mohali Area Development Authority Surinder Pal Singh, alias Pehalwan.

The officials said the raids were held on the premises of Gurdeep, running Fastway Cable Network and Jujhar Transport, after it had been found that the proceeds of Pehalwan’s crime were linked to his business accounts.

Explaining the modus operandi, an official said: “We have found that the money procured as bribe by Pehalwan by favouring these firms was circulated in his bogus firms in the name of his family members and close associates. It was further found that a certain part of the money from the companies owned and controlled by Pehalwan and/or his family members had also gone to Gurdeep.”