The Enforcement Directorate (ED) has sought the registration of an FIR over suspected irregularities in land purchases in Amritsar, alleging that land acquired for less than Rs 20 lakh per acre was sold to the Punjab Cricket Association (PCA) for nearly Rs 3 crore per acre within a few months.
In a letter to the Senior Superintendent of Police (SSP), Mohali, the ED highlighted transactions involving two firms, AGM Heights Pvt Ltd and Future Homes. Both companies reportedly purchased land from local farmers before selling portions of it to the cricket association at substantially higher prices.
The agency suspects that PCA funds may have been misappropriated, citing the significant gap between the firms' original purchase prices and the amounts they subsequently received from the association.
Rs 6.92 CRORE LAND SOLD FOR Rs 58.22 CRORE
According to the ED's letter, AGM Heights acquired approximately 7.63 acres from local farmers between September and November 2025 for Rs 1.36 crore.
On February 16, 2026, the company sold around 4.05 acres of this land to the PCA for Rs 12.03 crore.
Future Homes purchased approximately 28.01 acres from local landowners between August and November 2025 for Rs 5.56 crore. On February 16, 2026, it sold around 15.44 acres to the PCA for Rs 46.18 crore.
An analysis by India Today of the figures mentioned in the ED's letter found that the two firms collectively bought around 35.64 acres for Rs 6.92 crore. Within three to six months, they sold a smaller portion, measuring approximately 19.49 acres, to the PCA for Rs 58.22 crore.
The ED has alleged that the association paid around 15.4 times the original amount the two companies had spent on purchasing the land.
BHATINDA LAND PURCHASED AT NEARLY FOUR TIMES THE GOVERNMENT RATE
The ED has also highlighted a separate land transaction in Deon village, Bathinda. On December 20, 2024, the PCA paid seller Darshan Singh Rs 19.76 crore for approximately 12.56 acres.
Records cited in the letter indicate that the purchase price was around Rs 1.57 crore per acre, compared with the government's collector rate of Rs 40 lakh per acre.
According to the agency, the association paid approximately 3.93 times the official collector rate for the property.
The letter also notes that a rate of Rs 7.50 lakh per kanal was the second-highest price recorded for an individual land transaction in the area during 2024-25.
The PCA also acquired approximately 19.47 acres in Ajnala, Amritsar.
According to the ED's letter, the two land parcels in Amritsar and Bathinda covered a combined area of around 32.03 acres and were purchased for approximately Rs 77.99 crore.
ED QUESTIONS HOW FUNDS WERE USED AFTER THE TRANSACTIONS
Apart from the land purchase prices, the ED has raised concerns about the subsequent movement of money received by the sellers.
In AGM Heights' case, the PCA allegedly deposited Rs 11.91 crore, excluding tax deducted at source (TDS), into the company's HDFC Bank account on February 17, 2026.
The agency said the entire amount was withdrawn within two months.
The major payments allegedly made from these funds included Rs 3.58 crore to Harimohan Kaur Randhawa, Rs 2.03 crore to company director Gurpreet Singh and Rs 69.51 lakh to a GST contractor.
Future Homes reportedly received Rs 45.72 crore, excluding TDS, from the PCA through a cheque or demand draft deposited into its Punjab National Bank account on February 18, 2026.
The ED stated that Rs 45 crore was subsequently transferred to the company's partners, Ramneek Singh and Shallu Dhigra, who received Rs 22.50 crore each.
The letter also records that the two partners had previously contributed Rs 7.62 crore and Rs 5.97 crore, respectively, to the firm.
Other alleged payments included Rs 3.66 crore to Kashmir Singh, Rs 2.65 crore to five individuals from Bhalla Pind in Punjab and Rs 2.30 crore to AGM Heights.
The agency has also raised questions about payments made to Darshan Singh. According to the ED, the PCA paid him Rs 19.57 crore, excluding TDS, through eight cheques or demand drafts deposited into three bank accounts, including accounts held with HDFC Bank and ICICI Bank.
The ED alleged that most of the money was subsequently transferred to different individuals, while Rs 44.60 lakh was withdrawn in cash.
ED HIGHLIGHTS FINANCIAL LINKS BETWEEN THE TWO FIRMS
The letter also questions the financial transactions between AGM Heights and Future Homes.
According to the ED, Future Homes opened its bank account on July 24, 2025, with deposits made by its partners. The account received a total of Rs 59.72 crore, including Rs 45.72 crore from the PCA, while its total debits stood at Rs 59.56 crore.
The agency said most of the money was transferred to the firm's partners. It also flagged a payment of Rs 1.5 crore to AGM Heights after Future Homes received funds from the PCA, describing the transfer as another suspicious transaction involving the companies connected to the land deals.
The ED further referred to public records indicating that AGM Heights was incorporated in 2023 with a share capital of Rs 15 lakh and paid-up capital of Rs 2 lakh. The agency has questioned the firm's involvement in substantial land transactions within the first few years of its establishment.
The letter also mentions Amarjit Singh Mehta, who has served as PCA president since February 2023 and is from Bathinda. His son, Padamjeet Singh Mehta, is the Mayor of Bathinda.
The agency pointed out that the Bathinda land purchased from Darshan Singh in December 2024 was acquired while Mehta was serving as PCA president.
The Punjab Cricket Association governs cricket in Punjab and the Union Territory of Chandigarh and is affiliated with the Board of Control for Cricket in India (BCCI). Its headquarters are located at the IS Bindra Stadium in Mohali.
Following its preliminary enquiries, the ED has alleged that PCA funds were diverted under the guise of purchasing land at inflated prices. It also claimed that substantial amounts were withdrawn in cash after payments were made to private firms and individuals.
The agency stated that the transactions could involve cognisable offences, including criminal conspiracy and cheating under Sections 61(2) and 318(4) of the Bharatiya Nyaya Sanhita, 2023. These provisions correspond to Sections 120B and 420 of the Indian Penal Code, 1860.
