ED Attaches Assets in Highway Fraud
Analysis based on 7 articles · First reported Mar 16, 2026 · Last updated Mar 16, 2026
This event highlights corruption within government projects, potentially increasing scrutiny on infrastructure spending and land acquisition processes in India. While not directly impacting specific stocks, it could lead to increased regulatory oversight and reputational risks for entities involved in such projects, affecting investor confidence in related sectors.
The India — Enforcement Directorate has attached movable and immovable properties worth Rs 23.35 crore in connection with a land acquisition compensation fraud related to the Raipur–Visakhapatnam Expressway project under the Bharatmala. The investigation, initiated based on an FIR by the India — Chhattisgarh India — Economic Offences Wing and India — Anti-Corruption Bureau, revealed that Harmeet Singh and his associates, including Khemraj Koshle, Punuram Deshlahare, and Kundan Baghel, conspired with public servants to fraudulently obtain inflated compensation. They manipulated revenue records by falsifying and backdating land subdivisions after a notification from the India — Ministry of Road Transport and Highways. Landowners were induced to sign documents, and multiple bank accounts were opened to receive inflated compensation. A substantial portion of these funds, totaling Rs 27.05 crore, was then siphoned off to accounts controlled by Harmeet Singh and his associates, leaving landowners with only their legitimate compensation. The attached assets represent the traced proceeds of crime under the Prevention of Money Laundering Act, 2002.
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