Tag: Ansal Properties and Infrastructure Ltd

Latest StoriesRegulatory

ED Seizes ₹598 Crore in Assets from Ansal Properties Case

Sure! Here’s a rewritten version of the content: 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…

Latest StoriesRegulatory

NCLAT Backs Lucknow Body in Ansal Insolvency Case

LUCKNOW: In a significant decision for the Lucknow Development Authority (LDA), the National Company Law Appellate Tribunal (NCLAT) has ruled that no actions regarding the insolvency proceedings of Ansal Properties and Infrastructure Ltd can proceed without hearing from the Authority. This case involves alleged breaches of the High-Tech Township policy by the Ansal Group, including the non-delivery of plots, flats, villas, and commercial units booked by thousands of homebuyers in Lucknow since 2009. The NCLAT had previously accepted the insolvency petition, declared the real estate firm as bankrupt, and appointed an interim resolution professional, raising concerns about the interests of…