Jalandhar: The Jalandhar zonal office of the Enforcement Directorate (ED) has handed over properties worth ₹20.21 crore to banks in connection with a money-laundering case involving investment fraud by M/s Nature Heights Infra Limited, officials said on Tuesday.
The action was taken following orders of a special Prevention of Money Laundering Act (PMLA) court. While the official (circle) rate of the attached properties is estimated at ₹20.21 crore, their current market value is pegged at nearly ₹50 crore. The assets comprise commercial properties located in Fatehgarh Sahib district of Punjab.
Case background
The ED initiated its probe on the basis of multiple FIRs registered by the Punjab Police. Investigations revealed that the main accused, Neeraj Arora, along with his company Nature Heights Infra Limited, allegedly cheated a large number of investors by collecting funds on the promise of allotting plots.
According to the agency, the money collected from investors was diverted to purchase properties in the names of the accused and the company, while investors neither received land nor refunds. The proceeds of crime were allegedly used for personal expenses and for creating benami assets.
During the investigation, the ED had provisionally attached assets worth about ₹46.02 crore across Punjab, Madhya Pradesh and Rajasthan. The prime accused was arrested on October 8, 2024, and is currently in judicial custody.
On February 6, 2026, a special PMLA court in Mohali ordered the release of the attached properties to the concerned banks to facilitate recovery of losses suffered by investors. The ED said further investigation in the case is ongoing.
