They also asked the governor to direct Capt. Amarinder Singh-led Congress government to fulfil its poll promises of farmers' loan waiver and ensure protection of rights of the Dalit community.
A joint SAD-BJP delegation, led by SAD president Sukhbir Singh Badal and BJP Punjab president Vijay Sampla, submitted a memorandum in this regard to the governor at Raj Bhavan here.
Terming it as an "open and shut case of benaami transactions", he said it should be probed by the Enforcement Directorate (ED) and Income Tax (IT) department.
Badal also termed as mere "eyewash" the formation of one man commission of a retired judge J S Narang by the government to inquire into the issue.
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"Rana Gurjit is often seen in Narang's house. Narang's son fights Rana's cases as a lawyer. He cannot be expected to hold an impartial inquiry", he alleged.
Claiming that suicides by farmers have increased in the last three months and that 70 agriculturists having taken the extreme step, he said if the government failed to waive farmer loans immediately, Punjab may face law and order problem.
SAD MP Prem Singh Chandumajra said that the chief minister had given a "clean chit" to Rana Gurjit even before the Commission had submitted its report by stating that he had gone through the documents and did not find anything wrong.
BJP State president Vijay Sampla urged the governor to intervene and ask the Congress government to take firm action to stop repression of the Dalit community.
He said the scheduled caste community was being systematically targeted across the state for supporting the Akali-BJP combine in the last elections.
He alleged that Dalits were not getting justice despite approaching the police because it was acting like a wing of the Congress party.
Former speaker Charanjit Atwal and former minister Bikram Majithia also spoke about atrocities on dalits, with Majithia highlighting how a dalit was beaten and stripped and his Congress tormentor posted a video of the same on social media.
They said that the new government had reneged on its promise to give jobs to each household besides unemployment allowance of Rs 2,500 per month to the youth.
In the memorandum, they also said the government had failed to double social welfare benefits, besides initiating a manifold increase in old age pension.
After his meeting outside the Raj Bhawan, when Badal was asked about his comment on the Congress government decision to come out with a white paper on state finances, he said the SAD-BJP alliance would come out with a "super white paper" on the development done during the last ten years.
Terming as "biggest culprit" the finance minister for non implementation of farm loan waiver, Sukhbir said he had headed the election manifesto committee and claimed that he knew how to implement the loan waiver promise, but "now the same person is making excuses."
"This is unacceptable," he added.