The Punjab Vigilance Bureau has filed a chargesheet running to approximately 40,000 pages against former Punjab Cabinet Minister Bikramjit Singh Majithia in a disproportionate assets case. Investigators have alleged that ten business entities were used to route and hold funds linked to suspected illicit wealth, with transactions worth ₹686.15 crore passing through the bank accounts of two firms.
The chargesheet reportedly identifies companies and business entities allegedly connected to Majithia's relatives and associates. The investigation also points to substantial overseas deposits received by one of the companies.
The case concerns alleged accumulation of assets beyond known sources of income during a ten-year period from March 2, 2007, to March 31, 2017. An FIR was registered against Majithia on June 25, 2025.
Vigilance Bureau Revises Disproportionate Assets Estimate
According to the chargesheet, the Vigilance Bureau initially estimated that Majithia had accumulated approximately ₹40.78 crore in assets disproportionate to his known sources of income. This was calculated at 1,200.13% above his legitimate earnings.
Following further investigation and examination of additional financial transactions, the bureau reportedly revised the estimate to 1,495.37%.
The investigation has also named Harpreet Singh Gulati and Majithia's brother-in-law, Gajpat Singh Grewal, as accused. Investigators allege that these individuals were involved in establishing or managing corporate structures through which the suspected funds were routed.
The allegations are part of the prosecution's case and will be subject to judicial examination.
Ten Business Entities Identified in the Chargesheet
The Vigilance Bureau has listed ten companies and business entities that it allegedly linked to the financial transactions under investigation.
The entities named in the chargesheet include:
Saraya Industries Private Limited
Peregrine Saraya Organics Private Limited
SD Beverages Private Limited
A to Z Transport, also known as Patiala Express
AD Enterprises
United Wines, associated with Harpreet Gulati HUF
Akash Enterprises, operated by Harpreet Singh Gulati
UW Enterprises Private Limited
AD Enterprises Private Limited
Akash Spirit Private Limited
The investigation has also reportedly identified a suspected benami investment in Saraya Aviation Limited.
The agency is examining the ownership structures, financial relationships and movement of funds involving these entities to establish whether they were used to conceal the alleged proceeds of disproportionate assets.
₹686 Crore Transactions and Overseas Financial Links
Financial records relating to Saraya Industries form a significant part of the investigation.
According to the chargesheet details reported by the agency, the company's bank accounts received an additional ₹170.39 crore between 2007 and 2009. The investigation also identified ₹176.56 crore described as an undue benefit received from foreign institutions.
For the period between 2012 and 2014, investigators reportedly identified another ₹127.90 crore deposited into the company's accounts. The company also recorded an unexplained increase of ₹194.62 crore in immovable assets during the period under examination.
Separately, Nawanshahr Power Private Limited allegedly received an unusual financial benefit of ₹16.68 crore from the Syndicatum Group.
The Vigilance Bureau's wider investigation reportedly traces ₹686.15 crore through the bank accounts of two specific firms. The overseas deposits and domestic transactions are among the financial links that investigators are seeking to explain.
The chargesheet's figures represent the agency's allegations and financial assessment, not findings of guilt by a court.
Majithia Challenges the Government's Public Statements
Responding to the allegations, Bikramjit Singh Majithia questioned what he described as differences between the government's arguments in court and statements made publicly by leaders of the ruling Aam Aadmi Party.
He argued that a disproportionate assets investigation should not automatically be associated with allegations of narcotics smuggling. Majithia also maintained that the appearance of a company name or a financial figure in an investigation does not, by itself, establish criminal wrongdoing.
Punjab Chief Minister Bhagwant Mann, meanwhile, said Majithia would have difficulty avoiding accountability and maintained that those accused of damaging Punjab's reputation through drug-related issues should face consequences.
Mann also criticised the Akali leadership, questioning its connection with Punjab's language, culture and grassroots concerns.
The exchange has added a political dimension to a case that is primarily focused on alleged financial irregularities and the movement of funds through corporate entities.
What Happens Next in the Case?
The filing of the extensive chargesheet marks a significant stage in the Vigilance Bureau's investigation. The prosecution will need to establish its allegations through evidence and legal proceedings.
The central issues include the origin of the funds, the ownership and control of the identified companies, the purpose of the transactions and whether the assets attributed to Majithia can be explained through legitimate income.
The case also highlights the role of financial records, corporate structures and cross-border transactions in investigations involving alleged disproportionate assets. Proper financial investigation services can help organisations examine complex transactions, identify unusual financial patterns and strengthen financial transparency.
The court will ultimately determine whether the allegations and evidence presented by the Vigilance Bureau establish criminal liability.