ED action against fake firms rattles Sirsa property market

The Enforcement Directorate’s (ED) probe into alleged fake firms under the Prevention of Money Laundering Act (PMLA) has triggered anxiety among property buyers in Sirsa after the agency attached 37 immovable properties worth about Rs 17.16 crore.

The properties belong to Padam Bansal, his wife Asha Rani, son Amit Bansal and daughter-in-law Sunita Rani, accused in a VAT scam. The ED suspects scam proceeds were used to buy residential plots, houses, flats and agricultural land across Sirsa, many of which were later sold at high prices.

In October 2024, the ED sought registration details from the Sub-Registrar, Sirsa, for multiple properties acquired between 2011 and 2024, spread across F Block, Shastri Colony, Mandi Township, Era Laurel Garden, Shahpur Begu, Bajenka, Thedi Baba Sawan Singh and other villages.

Buyers who purchased these properties now fear legal complications following the attachments.

Meanwhile, action against illegal colonies has added to the trouble. The District Town Planner (DTP), Sirsa, recently issued notices to three to four persons for illegal colonisation in Ellenabad, during which a family member of Mahesh Bansal, another alleged fake firm operator, surfaced.

“Our teams conduct regular inspections. Whenever we receive information about illegal colonisation, strict action is taken as per rules,” said DTP Sirsa Karamveer Singh.