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In a significant move, the Enforcement Directorate (ED) carried out search operations on January 23, 2024, across 20 locations in Chandigarh, Panchkula (Haryana), Zirakpur (Mohali, Punjab), Baddi, and Solan (Himachal Pradesh). This operation, conducted under the Prevention of Money Laundering Act, 2002, is a crucial step in the investigation into the Haryana Shahri Vikas Pradhikaran (HSVP, formerly known as HUDA – Haryana Urban Development Authority) fake refund scam.
The ED initiated its investigation based on an FIR filed by the Haryana Police under various sections of the IPC, 1860, against HSVP. The focus of the investigation was a fraudulent scheme that spanned from 2015 to 2019, wherein various individuals, firms, and companies misused HSVP’s bank accounts, leading to a staggering financial loss of approximately Rs. 70 Crore to the government exchequer.
The ED’s investigation brought to light that government funds were unlawfully availed, with the perpetrators misusing HSVP’s bank account during the specified period. Shockingly, it was revealed that these funds were repeatedly released in favor of beneficiaries, indicating a suspected connivance of certain officials within HSVP. These beneficiaries, seemingly unrelated to any legitimate departmental activities, were found to lack any corresponding records within HSVP.
“Further scrutiny uncovered the establishment and utilization of various shell entities, including Unicity Constructions, by the beneficiaries. These entities were employed for the layering, rotation, and utilization of the proceeds of crime, primarily invested in various immovable properties and other expenses”.
During the extensive search operations, the ED seized documents related to immovable properties valued at approximately Rs. 11 Crore. In addition, cash amounting to Rs. 19 lakh was confiscated. The searches also unearthed a startling 115 bank accounts suspected to be involved in the layering and rotation of proceeds of crime. Various incriminating documents, electronic devices, and books of accounts belonging to multiple firms and companies were also discovered and seized.
This crackdown by the Enforcement Directorate marks a significant stride in unveiling the intricacies of the HSVP fake refund scam, shedding light on the misuse of government funds and the alleged complicity of officials within the authority. As the investigation unfolds, the ED aims to bring the perpetrators to justice and restore financial integrity to the government exchequer.
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