ED attaches Ansal group’s properties worth Rs 313 crore in Agra

Lucknow: Enforcement Directorate (ED) has provisionally attached immovable properties worth Rs 313.12 crore of Ansal Properties & Infrastructure Ltd. (APIL) and its promoters under the provisions of the Prevention of Money Laundering Act (PMLA) for alleged financial irregularities. According to officials, the attached assets comprise residential land parcels measuring 9.08 hectares located in Agra, which have been provisionally seized as part of the agency's probe into the alleged diversion and misappropriation of funds collected from homebuyers. The ED initiated its investigation on the basis of 278 FIRs registered against APIL and its directors for offences including criminal breach of trust, criminal conspiracy and forgery under various sections of the Indian Penal Code. These complaints were primarily filed by homebuyers linked to the Sushant Golf City housing project in Lucknow, where buyers alleged non-delivery of flats and diversion of project funds. During the course of investigation, ED officials found that customer advances amounting to Rs 1,234.92 crore had been collected by the company under the pretext of developing residential projects in Sushant Golf City. However, financial analysis revealed that only Rs 921.80 crore was actually utilized for the development of project assets in Lucknow, while the remaining Rs 313.12 crore was allegedly diverted to non-project-related activities and subsequently dissipated. Investigators further stated that since the direct proceeds of crime were no longer traceable, the agency has attached alternative immovable properties of equivalent value in Agra to secure the diverted amount. Officials said the action was taken to safeguard the interests of thousands of homebuyers.