The Enforcement Directorate has provisionally attached immovable properties valued at around Rs 313.12 crore owned by Ansal Properties & Infrastructure Ltd (APIL) under the Prevention of Money Laundering Act. This action was carried out by the ED’s Lucknow Zonal Office as part of an investigation into financial irregularities involving the real estate company and its promoters. The attached assets include residential land parcels spanning approximately 9.08 hectares in Agra, Uttar Pradesh.
The probe by the ED is linked to allegations of financial misappropriation and fraudulent diversion of funds collected from homebuyers. The investigation, initiated based on 278 FIRs against Ansal Properties & Infrastructure Ltd and its directors, involves offenses such as criminal breach of trust, criminal conspiracy, and forgery under various sections of the Indian Penal Code. The focus of the investigation is primarily on the company’s Sushant Golf City project in Lucknow, where flats promised to homebuyers were reportedly not delivered, and funds collected were diverted for unrelated purposes.
According to ED officials, Ansal Properties & Infrastructure Ltd had gathered customer advances totaling Rs 1,234.92 crore from homebuyers for projects at Sushant Golf City in Lucknow. However, only Rs 921.80 crore was utilized for project assets creation in Lucknow, with the remaining Rs 313.12 crore allegedly diverted to non-project-related activities. As the direct proceeds of crime were unavailable, the ED has provisionally attached alternative immovable properties in Agra equivalent to the diverted amount to safeguard the interests of innocent homebuyers and ensure project continuity.
The attached properties, currently held in the names of companies linked to Ansal Properties & Infrastructure Ltd, are part of the ongoing investigation. Further inquiries into the case are in progress.
