ED attaches GBP group’s four plots in Mohali

The Enforcement Directorate has taken possession of immovable properties linked to Gupta Builders and Promoters (GBP) Pvt Ltd as part of an ongoing investigation under the Prevention of Money Laundering Act (PMLA).
The properties, consisting of four plots located at Aeropolis City in Sector 66, Mohali, were taken into possession on Tuesday. The plots, including R-1108, R-1109, R-1110 and R-1111, collectively cover an area of 929.86 square yards.
The possession follows the confirmation of a provisional attachment order issued on April 27, 2023, by the adjudicating authority under the PMLA. The attached properties are part of a broader investigation in which ED has identified and provisionally attached various movable and immovable assets worth over ₹305 crore, belonging to GBP and associated entities.
Investigation revealed that GBP and its directors—Satish Gupta, Pardeep Gupta, Raman Gupta, and Vinod Gupta—allegedly defrauded home buyers and investors by collecting substantial sums of money under the guise of booking amounts, advance payments for residential and commercial properties, and promises of assured returns.
Instead of using these funds for the intended purpose of developing projects, the money was allegedly diverted to various associated concerns, personal accounts and used to purchase land for other projects, further luring investors into new schemes.
Despite multiple summons issued under the PMLA, the directors failed to cooperate with the investigation. On August 1, the special PMLA court in Chandigarh declared all four directors as “proclaimed persons.”
Following this, ED filed a prosecution complaint against GBP, its directors and others before the court. Taking cognisance of the complaint, the court issued summons to all accused.