Enforcement Directorate’s latest raid on corruption nets Ansal Properties and Infrastructure Limited, with ₹598 crore worth of Agra land frozen under PMLA provisions. The operation peels back layers of a Gurugram land release racket, revealing unholy alliances that cheated the public exchequer.
CBI’s 2019 FIR, honoring Supreme Court mandates, levels charges of cheating, conspiracy, and corruption against APIL and accomplices. Focus is on HUDA’s handling of sectors 58-67 land, notified under the 1894 Act but slyly de-notified for colonizer profit.
APIL’s modus operandi involved pre-emptive GPAs from owners, devoid of financial commitments or clear terms, followed by engineered uncertainties to depress sale prices far below market. Haryana authorities then rubber-stamped licenses, converting 42 acres of contested land into premium housing like Essencia and Versalia, now flipped to retail investors.
ED’s forensic probe identified Agra holdings as beneficially owned by APIL despite nominal shell ownership, perfect vehicles for parking scam proceeds. By attaching these, the agency prioritizes restitution for affected parties while pursuing broader laundering trails.
This development signals intensified scrutiny on legacy builders, urging reforms in land governance to prevent recurrence. Stakeholders watch closely as courts deliberate the attachments’ fate, potentially reshaping trust in India’s property market.