Lucknow, Feb 25 (NationPress) The Enforcement Directorate has provisionally secured immovable assets, including land, estimated at over Rs 598 crore in Agra, Uttar Pradesh, under the Prevention of Money Laundering Act, 2002, pertaining to the investigation involving M/S Ansal Properties and Infrastructure Ltd.

The ED initiated its investigation following an FIR lodged by the Central Bureau of Investigation's Anti-Corruption Branch in New Delhi on January 23, 2019.

This FIR was filed under provisions of sections 120-B and 420 of the Indian Penal Code, along with sections 13(2) and 13(1)(d) of the Prevention of Corruption Act, 1988.

It implicated several public officials and private developers, including Ansal Properties and Infrastructure Ltd, following directives from the Supreme Court in a Civil Appeal, as per a press statement.

The case revolves around alleged extensive irregularities in the acquisition and subsequent de-notification of land across sectors 58 to 63 and 65 to 67 in Gurugram, Haryana.

This land was initially designated for public use under sections 4 and 6 of the Land Acquisition Act, 1894, for development by the Haryana Urban Development Authority and to create a land bank.

However, a significant portion was later released to private developers through what the investigation describes as a fraudulent and collusive mechanism, which circumvented statutory safeguards and compromised transparency in public-purpose acquisitions, as stated by the agency.

The ED's inquiry under the PMLA uncovered that Ansal Properties engaged in collaboration contracts and secured a General Power of Attorney from individual landowners for land that was already subject to acquisition notifications.

These contracts exhibited serious deficiencies, such as lack of consideration preceding the section 4 notification, the omission of essential contractual clauses, and subsequent amendments.

The notified status created uncertainty for landowners, diminishing their negotiating power and allowing transfers to private entities at prices significantly below market value, resulting in unjust profits for the company and losses for the original landholders.

Based on these arrangements, the Haryana Department of Town and Country Planning issued licenses numbered 18/2010, 21/2011, and 26/2012 to Ansal Properties for the development of residential plotted colonies across 142.306 acres in the village of Badshahpur, Gurugram.

Out of this, 42.751 acres of previously notified land were de-notified to facilitate these licenses. This land was transformed into projects named Esencia and Versalia, which have been completely sold to third-party buyers and no longer exist in their original form.

To protect innocent homebuyers and prevent disruption to occupied projects, while the direct proceeds of crime remain inaccessible, the ED has attached alternative immovable properties located in various villages of Agra.

These assets are registered under the names of affiliated companies and individuals acting as fronts for Ansal Properties. The investigation has confirmed that these entities functioned as land-holding vehicles, with funding, control, and beneficial ownership resting with the company.

The ED reiterated its dedication to preventing proceeds of crime from evading legal scrutiny and ensuring accountability. The investigation under the Prevention of Money Laundering Act remains ongoing.