Praveen Kansal and Neeraj Kansal, the promoters of the Royale Estate Group, have been arrested by the Enforcement Directorate (ED) in connection with a money laundering case linked to alleged financial irregularities in Punjab’s real estate sector.
They both were taken in custody following coordinated raids carried out by the agency on several premises linked to their Chandigarh Royale City Promoters Pvt Ltd and the Royale Estate Group across Punjab.
The raids began on Tuesday morning at several locations in Chandigarh, Mohali, and Zirakpur.
One of the key searches was conducted at the Sector-20 residence of Praveen Kansal alias Rocky, who is associated with the “Chandigarh Royal City” project in Zirakpur.
The ED action is based on an FIR registered by the Punjab Police in July 2025 against directors and associated persons linked to the project.
Investigators are probing allegations related to dishonoured cheques worth nearly Rs 32.67 crore and alleged non-payment of statutory dues to the Greater Mohali Area Development Authority (GMADA).
Apart from the ED investigation, the Punjab Vigilance Bureau had also registered a case against Praveen Kansal last year under Sections 420 and 120-B of the IPC on a complaint filed by his business partner, Pyarelal Garg.
Vigilance officials alleged that Kansal and some associates fraudulently transferred ownership rights of prime land in New Chandigarh and cheated his partner in the transaction