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The Enforcement Directorate has provisionally attached land parcels worth INR 598 crore in Agra in connection with a money laundering investigation against Ansal Properties and Infrastructure Ltd. The action is linked to alleged irregularities in the release of land in Gurugram that had originally been acquired for public purposes. The case originates from a 2019 CBI FIR registered on Supreme Court directions. Since the Gurugram land has already been developed and sold, the agency attached alternate properties in Agra to secure alleged proceeds of crime.
The Enforcement Directorate (ED) has provisionally attached immovable land assets valued at INR 598 crore in Agra as part of its ongoing money laundering investigation against Ansal Properties and Infrastructure Ltd. The attachment has been made under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. Advertisement
The action relates to alleged irregularities in the acquisition and subsequent release of land located in sectors 58-63 and 65-67 of Gurugram, Haryana. These land parcels had originally been notified for acquisition under the Land Acquisition Act, 1894, for public purposes, including development by the Haryana Urban Development Authority and for creation of a land bank.
The ED's investigation has indicated that the land was later released in favour of private colonisers, including the company, through what the agency described as a collusive and fraudulent process. According to the findings, agreements were entered into with landowners through General Power of Attorney arrangements that allegedly contained serious irregularities. These reportedly included lack of proper consideration before issuance of acquisition notifications, absence of essential contractual terms, and alterations made after execution.
The probe originates from a 2019 FIR registered by the Central Bureau of Investigation on the directions of the Supreme Court. The FIR named the real estate firm along with certain government officials and private developers. The CBI had alleged that such arrangements weakened the bargaining position of landowners and enabled transfer of land to developers at rates significantly lower than market value, resulting in wrongful gains to the company and losses to the original landholders.
The ED has stated that the Gurugram land parcels have already been developed into residential projects and sold to third-party buyers. Projects such as Esencia and Versalia were developed on portions of the land. Since these properties no longer retain their original identity and are in possession of homebuyers, the agency has attached alternate immovable assets in Agra of equivalent value.
The attached properties in Agra are held in the names of associate entities and individuals who were allegedly acting on behalf of the company. The ED has claimed that although these properties were not directly in the company's name, funding, control and beneficial ownership were linked to it, and therefore they qualify as proceeds of crime under the PMLA framework.
The attachment is provisional in nature and is subject to confirmation by the Adjudicating Authority under the Act. The investigation in the matter is continuing.
Source PTI
FAQ
1. What action has the Enforcement Directorate taken?
The Enforcement Directorate has provisionally attached immovable land parcels worth INR 598 crore in Agra under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The action is part of its ongoing investigation into alleged money laundering involving Ansal Properties and Infrastructure Ltd.
2. What is the background of the case?
The investigation stems from a 2019 FIR registered by the Central Bureau of Investigation, following directions from the Supreme Court. The FIR alleged irregularities in the release of land in Gurugram that had originally been acquired for public purposes under the Land Acquisition Act, 1894.
3. What were the alleged irregularities?
According to the ED, land in sectors 58-63 and 65-67 of Gurugram was released in favour of private colonisers through a collusive process. The agency cited irregular General Power of Attorney agreements, lack of proper consideration before acquisition notifications, missing contractual safeguards, and post-execution alterations that allegedly led to wrongful gains for developers and losses for landowners.
4. Why were properties in Agra attached instead of Gurugram?
The Gurugram land parcels have already been developed into residential projects such as Esencia and Versalia and sold to third-party buyers. Since these assets no longer retain their original form, the ED attached alternate immovable properties in Agra of equivalent value to secure the alleged proceeds of crime.
5. In whose name are the attached Agra properties?
The attached assets are reportedly held in the names of associate entities and individuals allegedly linked to the company. The ED has stated that funding, control, and beneficial ownership of these properties are connected to the firm, qualifying them as proceeds of crime under PMLA provisions.
6. Is the attachment final?
No, the attachment is provisional and subject to confirmation by the Adjudicating Authority under the PMLA. The investigation in the matter is ongoing.
7. What is the significance of this action?
The move reflects the agency's approach of securing equivalent-value assets when original properties have been transferred or developed. It also signals continued scrutiny of land acquisition and development practices linked to alleged financial irregularities.
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