Lucknow, Feb 25 (IANS) The Enforcement Directorate has provisionally attached immovable properties, including land, valued at more than Rs 598 crore in Agra, Uttar Pradesh, under the Prevention of Money Laundering Act, 2002, in connection with the case involving M/S Ansal Properties and Infrastructure Ltd.
The ED launched its probe based on an FIR registered by the Central Bureau of Investigation’s Anti-Corruption Branch in New Delhi on January 23, 2019.
The FIR was filed under sections 120-B and 420 of the Indian Penal Code and sections 13(2) read with 13(1)(d) of the Prevention of Corruption Act, 1988.
It targeted various public servants and private builders, including Ansal Properties and Infrastructure Ltd, following directions from the Supreme Court in a Civil Appeal, a press statement said.
The matter relates to alleged large-scale irregularities in the acquisition and subsequent de-notification of land in sectors 58 to 63 and 65 to 67 in Gurugram, Haryana.
The land was initially notified for public purposes under sections 4 and 6 of the Land Acquisition Act, 1894, for development by the Haryana Urban Development Authority and for the creation of a land bank.
However, much of it was later released to private colonisers through what the investigation describes as a fraudulent and collusive process, bypassing statutory safeguards and undermining transparency in public-purpose acquisitions, the agency’s press statement said further.
The ED’s PMLA inquiry revealed that Ansal Properties entered into collaboration agreements and obtained a General Power of Attorney from individual landowners for land already under acquisition notification.
These agreements showed serious lapses, including a lack of consideration before the section 4 notification, the omission of key contractual terms, and subsequent modifications.
The notified status created uncertainty for landowners, weakening their bargaining power and enabling transfers to private entities at rates far below market value, resulting in wrongful gains for the company and losses for the original holders.
Based on these arrangements, the Haryana Department of Town and Country Planning granted licenses numbered 18/2010, 21/2011, and 26/2012 to Ansal Properties for the development of residential plotted colonies over 142.306 acres in the village of Badshahpur, Gurugram.
Of this, 42.751 acres of previously notified land were de-notified to facilitate the licenses. The land was developed into projects named Esencia and Versalia, which have been fully sold to third-party buyers and no longer retain their original form.
To safeguard innocent homebuyers and avoid disrupting occupied projects, while the direct proceeds of crime are unavailable, the ED has attached alternative immovable properties in various villages of Agra.
These assets are held in the names of associate companies and individuals acting as proxies for Ansal Properties. The investigation has confirmed that these entities served as land-holding vehicles, with funding, control, and beneficial ownership resting with the company.
The ED stated its commitment to preventing proceeds of crime from evading legal processes and ensuring accountability. The investigation under the Prevention of Money Laundering Act continues.
–IANS
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