Chandigarh, November 1, 2025 (Bharat Khabarnama Bureau): A special court on Friday remanded prominent Mohali realtor Jarnail Singh Bajwa to three days of Enforcement Directorate custody, marking a pivotal development in a massive money laundering investigation involving Rs 662 crore. The ED will interrogate the managing director of Bajwa Developers Ltd to unravel the complex web of alleged financial malfeasance that defrauded hundreds of homebuyers.
The court granted the federal agency custody to trace the ultimate destination of diverted funds, identify further assets bought with criminal proceeds, and determine the involvement of other individuals and entities. Bajwa had been previously arrested under the Prevention of Money Laundering Act.
This financial crime investigation originated from multiple First Information Reports registered by the Punjab Police against Bajwa Developers Ltd and its directors for allegedly duping numerous investors and homebuyers. According to sources familiar with the probe, Bajwa systematically amassed vast sums from customers by offering residential and commercial properties in his Sunny Enclave projects in Kharar, SAS Nagar, based on false promises of statutory approvals and timely possession.
The investigation has uncovered that funds totaling Rs 662.49 crore, as recorded in the company’s most recent financial statements from the 2019-20 fiscal year, were allegedly siphoned off and routed through a network of related entities, family members, and associated concerns instead of being used for the promised real estate developments.
Mentionably, the search operations conducted by the ED on May 21-22 this year at Bajwa’s residential and business premises yielded critical evidence, including Rs 42 lakh in cash, four luxury vehicles valued at approximately Rs 1.7 crore, and numerous documents related to suspect fund diversions and property transactions.
A significant portion of the investor money was allegedly funneled into purchasing high-end vehicles, acquiring properties, settling unsecured loans of family-owned firms, and other personal expenditures, thereby generating and laundering proceeds of crime. The probe further suggests that Bajwa, in collusion with associates, engaged in duplicate property sales, fabricated sale records, and attempted to portray illicit funds as legitimate, constituting offenses under Section 3 of the PMLA.
This latest legal setback compounds Bajwa’s existing troubles, as he was recently convicted and sentenced to three years of rigorous imprisonment by an SAS Nagar court for defrauding government officials under the guise of an affordable housing project.
