Shimla, Sept 21,
The Enforcement Directorate (ED) has reportedly conducted raids for the second consecutive day at the Auramah Valley real estate project, located around 25 kilometers from Shimla in Naldera.
According to media reports, the action began on Friday and continued on Saturday with the presence of CRPF personnel. During the operation, officials are said to have seized foreign currency, laptops, mobile phones, pen drives, and several documents.
As per preliminary findings cited in reports, the project is alleged to have sold flats worth crores of rupees to NRI investors and obtained substantial bank loans on the basis of questionable documents. The project, spread over nearly 100 acres, reportedly has a plan to construct about 1,000 flats.
It is further suspected that the project may have been used as a channel for illegal transactions and overseas property dealings. The documents and digital material seized are now under examination, and further revelations are anticipated.
According to sources, the project is linked to real estate tycoon M.K. Gill, who also owns properties in the National Capital Region (NCR) and runs a multinational firm registered as Empirical Property.
Reports suggest that this action points towards possible irregularities in real estate sector, raising wider questions about investment practices and regulatory oversight in the state.
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