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NEW DELHI: The Enforcement Directorate (ED) announced on Wednesday the attachment of land valued at Rs 598 crore in Agra, Uttar Pradesh, part of an investigation into money laundering involving Ansal Properties and Infrastructure Ltd. (APIL).
The inquiry is focused on significant irregularities related to the acquisition and release of land in Gurugram’s sectors 58-63 and 65-67.
The ED stated that it has issued a provisional order under the Prevention of Money Laundering Act (PMLA) to seize land in Agra amounting to over Rs 598 crore.
The properties are registered under various affiliated companies and individuals representing APIL, which were set up as land-holding entities, while APIL retained all funding, control, and beneficial ownership, according to the ED.
The case alleges that land was initially earmarked for public purposes under the Land Acquisition Act, 1894, such as development by HUDA and establishment of a land bank.
However, the ED claims that a significant portion of this land was later released to private colonizers through fraudulent and collusive practices.
This conduct undermines the legal protections surrounding land acquisition and diminishes the expected transparency in state government dealings concerning public objectives, it asserted.
The money laundering investigation originates from a January 2019 FIR filed by the CBI against APIL, numerous government officials, and private developers, following directives from the Supreme Court.
The ED’s findings reveal that APIL engaged in collaboration agreements and acquired General Power of Attorneys (GPAs) from landowners concerning land already designated for acquisition.
These agreements were found to have severe irregularities, including the absence of consideration before the Section 4 notification, lack of crucial contractual terms, and post-facto amendments.
“Post-announcement of acquisition notifications by the state government, the recognized status of the land created uncertainty, significantly weakening the bargaining power of individual landowners.”
Consequently, this led to transfers favoring private colonizers at values significantly below market rates, resulting in unjust profit for the company and financial loss for the affected landowners, the ED noted.
The licensed land has been utilized for developing projects named “Esencia” and “Versalia.” As it has been fully developed and sold to third-party buyers, the land no longer retains its original physical identity, as per the agency’s statement.
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