A seismic blow to real estate giant Ansal Properties: ED has provisionally seized over ₹598 crore in Agra real estate, linking it directly to money laundering from Gurugram’s notorious land scam. The case exposes how notified public land morphed into private fortunes via graft.
Backed by CBI’s anti-graft FIR from 2019 per apex court instructions, allegations span conspiracy, fraud, and corruption statutes. Gurugram’s HUDA notified vast tracts in sectors 58-63, 65-67 for development, only for insiders to orchestrate releases favoring APIL and peers.
Through opaque collaboration pacts and premature GPAs lacking payments or clauses, APIL exploited notification ambiguities, acquiring land at throwaway prices. DTCP’s subsequent licenses for Badshahpur’s 142 acres—de-notifying key portions—birthed sold-out projects Essencia and Versalia.
To safeguard buyer investments, ED zeroed in on Agra-based entities serving as APIL’s proxies for holding tainted assets. Probes confirm APIL’s funding, oversight, and profit extraction from these shells.
As laundering charges mount, this attachment disrupts operations and recovers public loss. It spotlights urgent needs for transparent acquisition laws, deterring future collusions and restoring faith in regulated growth.