New Delhi, June 5 : The Enforcement Directorate (ED) has arrested Dilip Sisodiya alias Deepak Jain Madda as part of its ongoing investigation under the Prevention of Money Laundering Act (PMLA) into the illegal sale and alienation of lands of housing co-operative societies in Madhya Pradesh. Sisodiya was produced before a special PMLA court which sent him to seven-day ED custody. The ED initiated the PMLA investigation based on various FIRs lodged in Indore in the case of illegal sale and alienation of lands of housing co-operative societies by Sisodiya in connivance with other builders and developers. The investigation revealed that various accused persons in connivance with each other illegally sold and alienated huge parcels of prime land belonging to co-operative societies located in Indore. An ED official said that Sisodiya connived with various persons to defraud the housing societies by way of sale of huge parcels of land belonging to the societies at undervalued rates to various persons by flouting the rules applicable for such societies. The co-operative societies had huge landholding at prime locations of Indore as they were granted exemption under Section 20 of the Urban Land Ceiling Act, due to which they could acquire lots of land which were exceeding the landholding limit prescribed for various persons. "Sisodiya entered into some of these societies either directly as the office-bearer through manipulated elections or indirectly influenced the decision-making by placing his known persons in the key positions. As on date, the market value of these lands pertaining to numerous societies is estimated to be more than Rs 1,000 crore," the ED said. The ED had earlier raided the premises of Sisodiya and others, which resulted in the seizure of Rs 91.21 lakh in cash and various other incriminating documents. /IANS