Retired Punjab Mandi Board Officer and Wife Fall Victim to Multi-Crore Property Fraud
A retired senior officer of the Punjab Mandi Board and his wife have been cheated of crores in a property fraud case. The house they purchased in 2008 was actually bought in the name of PACL, a real estate company facing a multi-crore scam probed by SEBI.
Property FraudReal EstatePaclSebiPunjab Mandi BoardReal EstateAug 31, 2025
The truth came to light in August 2022 when Mohali police informed Rajinder Pal Singh that the property was attached by a SEBI-appointed committee headed by former Chief Justice RM Lodha. Investigations revealed that the house was actually purchased on September 16, 2005, using funds from PACL, a real estate company involved in a multi-crore scam. The original sale deed was recovered by the CBI from PACL in 2014.
During SEBI's hearings, it was established that Parampreet and Sehajbir were merely associates of PACL and had no legal right to sell the house. In February 2023, the court dismissed Singh's objections, leaving the couple without any legal claim to the property.
Alleging collusion, Rajinder Pal Singh named local property dealer ID Singh of Ajit Associates, Phase 3B2, Mohali, in the fraud, accusing him of facilitating the deal. He submitted a written complaint to the SSP (Mohali) seeking legal action against all the accused. 'This is a clear case of cheating and criminal conspiracy. We trusted the sellers in good faith, but they defrauded us by misrepresenting facts,' Singh said in his complaint. Police have stated that the matter is being investigated.
The Punjab Mandi Board, a statutory body responsible for the regulation of agricultural markets in Punjab, has a long history of serving farmers and ensuring fair trade practices. The board plays a crucial role in the state's agricultural economy, and this incident has raised concerns about the integrity of property transactions involving retired board officials.
The PACL scam, which has been under investigation by SEBI, has affected many innocent buyers who were misled about the true ownership and legal status of properties. This case highlights the importance of due diligence and the need for buyers to verify the authenticity of property documents before making any transactions.
Frequently Asked Questions
What is the PACL scam?
The PACL scam is a multi-crore real estate fraud involving the PACL company, which was found to be operating a Ponzi scheme. The company collected funds from investors under false pretenses and failed to deliver on its promises, leading to a major investigation by SEBI.
Who are the main parties involved in this property fraud case?
The main parties involved are Rajinder Pal Singh and Tejbir Kaur, the retired Punjab Mandi Board officer and his wife, the sellers Parampreet Singh Brar and Sehajbir Singh, and the local property dealer ID Singh of Ajit Associates.
What steps can property buyers take to avoid such frauds?
Buyers should thoroughly verify the authenticity of property documents, conduct due diligence on the sellers, and seek legal advice before finalizing any property transactions. It is also advisable to check if the property is involved in any legal disputes or attached by any regulatory bodies.
What is the role of the Punjab Mandi Board in this case?
While the Punjab Mandi Board is not directly involved in the property transaction, the case has raised concerns about the integrity of property transactions involving retired board officials. The board plays a crucial role in regulating agricultural markets in Punjab.
What actions are the police taking in this case?
The police are investigating the matter, and Rajinder Pal Singh has submitted a written complaint to the SSP (Mohali) seeking legal action against the accused. The investigation is ongoing to determine the extent of the fraud and the involvement of all parties.
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