Face2News/Chandigarh
Enforcement Directorate (ED) reported raided Retired IAS officer house at Chandigarh. During the raids, ED seluths seized Rs 1 crore in cash, diamonds, and gold valued at Rs 19 crores.
Recovery of huge gold , diamonds and cash . said to be a record in the history of Chandigarh.
In an alleged case of money laundering, the Enforcement Directorate has conducted multiple raids at the offices and premises of Lotus 300 housing project across various states including Delhi, Meerut, Noida and Chandigarh. In this case ED has raided multiple locations linked to former IAS officer and ex-Noida Authority CEO, Mohinder Singh, including his residences in Chandigarh, Noida, and Delhi.
The CAG report revealed that many plots were sold without following a proper bidding system, and in many cases the developers were favoured by the arbitrary decisions of the authority. The report also indicated that about 80% of commercial plot allotments during this period were secured by just three firms: the major competitors of this company are Wave Group, 3C Group, and Logix Group. These companies had a large amount of outstanding receivables, but they never suffered any consequences of the Noida Authority.
Mohinder Singh is implicated in a massive multi thousand crore land scam during the Mayawati government, where land allocations were manipulated for personal gain.The scam, which allowed several large real estate developers to benefit, caused significant revenue losses for the government.
The land scam is based on the infamous 10% policy of the Noida authority for the allocation of the land, and Singh is alleged to have helped many big real estate companies, including Amrapali and Supertech.
This scheme was alleged to have enabled developers to buy the land at throwaway prices, thus resulting in a huge loss to the state Govt. The Comptroller and Auditor General (CAG) of India has pointed out that the Noida Authority committed massive fraud in the period between 2005 and 2018 and provided evidence of a clear collusion between officials and builders, which cost the government tens of thousands of crores.
The CAG report revealed that many plots were sold without following a proper bidding system, and in many cases the developers were favoured by the arbitrary decisions of the authority. The report also indicated that about 80% of commercial plot allotments during this period were secured by just three firms: the major competitors of this company are Wave Group, 3C Group, and Logix Group. These companies had a large amount of outstanding receivables, but they never suffered any consequences of the Noida Authority. (inputs agencies)