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June 16, 2024 8:58 pm

Vigilance Bureau arrests another accused in PSIEC Plot Allotment Case

The Fact News Service
Chandigarh, May 24

 The Punjab Vigilance Bureau (VB) has arrested Avtar Singh, son of Sher Singh, a resident of Model Town, Ludhiana, in connection with the embezzlement in the allotment of industrial plots by the Punjab Small Industries Export Corporation (PSIEC) thereby benefiting in a personal gain of crores of rupees and inflicted a direct loss of Rs. 1,52,79,000 to the state government.

 Disclosing this here today an official spokesperson of the state VB said in this regard a case FIR No. 04, dated 08.03.2024 had already been registered under sections 409, 420, 465, 467, 468, 471, and 120-B of the IPC and sections 13(1)(a) and 13(2) of the Prevention of Corruption Act against the PSIEC officers/officials and private persons at the VB police station flying squad-1,  Punjab at SAS Nagar.

Providing further details, the he informed that Surinderpal Singh, the then CGM, Jaswinder Singh Randhawa, GM of PSIEC, and other PSIEC officers/officials, in collusion with private individuals and property dealers, committed embezzlement in the allotment of industrial plots. This resulted in a personal gain of crores of rupees and significant losses to the state government.

The spokesperson further informed that Avtar Singh and his son Damanpreet Singh, who deals in the sale and purchase of industrial plots, conspired with CGM Surinderpal Singh and GM JS Randhawa to allot PSIEC’s plot No. E-261, Phase 8-B, Industrial Area, SAS Nagar, measuring 1389 square yards, in the name of M/s Sukhmani Enterprises. They used a false Chandigarh-based address in the name of Damanpreet Singh and acquired the plot at a cost of Rs. 1265 per square yard on 13.07.2004.

He further added that, according to PSIEC rules and the allotment letter, the plot allotment should have been canceled if 30 percent of the total amount was not paid by the allottee within three months of allotment. However, this was not done. Additionally, Avtar Singh did not deposited any amount with the PSIEC after the initial 10 percent earnest money. The allotment dates of the mentioned plots were repeatedly changed.

The spokesperson further revealed that Avtar Singh, in collusion with GM JS Randhawa and CGM Surinderpal Singh, sold this plot in 2016 at the original purchase rate of Rs. 1265 per square yard, despite its valuation at Rs. 11,000 per square yard in 2013. The investigation uncovered that PSIEC officers/officials and Avtar Singh, a property dealer, caused a direct loss of Rs. 1,52,79,000 to the state exchequer. Moreover, Avtar Singh, GM JS Randhawa, and CGM Surinderpal Singh accepted bribes worth crores of rupees by selling and altering the said plot in 2016. Further investigation into this case is ongoing, he said.

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