Latest news with #PranavAnsal
Mint
04-05-2025
- Business
- Mint
ED seizes Ansal API's documents and devices, including properties worth ₹218 crore, for alleged money laundering: Report
The Enforcement Directorate last week seized documents and devices, including properties worth ₹ 217.80 crore, in operations against Ansal API, for alleged money laundering, the Hindustan Times reported on May 3. The ED's Lucknow zonal unit, has seized several documents and devices during searches at the company's Delhi, Ghaziabad and Lucknow premises under the Prevention of Money Laundering Act (PMLA) 2002, it added. According to an ED official, the probe showed that homebuyers money was 'diverted and misappropriated'. The report said that among documents seized include bank account details of 174 subsidiaries and group companies, and the financial details and project-level financials of the Ansal Group. Among these are a list of 62 immovable properties held by Ansal API's Promoter-Director Pranav Ansal, his family, and related parties, estimated to be ₹ 217.80 crore. This was recovered from a mobile device seized from a searched premise, it added. The ED is investigating Ansal Properties and Infrastructure and senior management for alleged large-scale fraud, criminal breach of trust and cheating of homebuyers, according to a press note from the authority on May 3. This is based on over 100 FIRs registered against them in Delhi, Haryana, Punjab and Uttar Pradesh, which indicated a collective amount of ₹ 135.51 crore in fradulent property sales, the department said. The FIRs allege that Ansal API sold homebuyers properties that were never completed and allegedly diverted the funds. 'Despite multiple summons, the senior management failed to cooperate with the investigation and did not provide the required financial details,' a senior ED official said.
Mint
04-05-2025
- Business
- Mint
ED seizes Ansal API's documents and devices, including properties worth ₹218 crore, for alleged money laundering: Report
The Enforcement Directorate last week seized documents and devices, including properties worth ₹ 217.80 crore, in operations against Ansal API, for alleged money laundering, the Hindustan Times reported on May 3. The Lucknow zonal unit of the Enforcement Directorate (ED) seized several incriminating documents and digital devices during search operations conducted under provisions of the Prevention of Money Laundering Act (PMLA), 2002 in the Ansal Properties and Infrastructure Limited (Ansal API) case, ED officials confirmed on Saturday. The searches were conducted on Wednesday (April 30) on five premises, including residences of Pranav Ansal (promoter- director), Deepak Movar (director) and other senior employees and at corporate offices of Ansal API across Lucknow, Ghaziabad, and New Delhi, the ED officials said. Financial details, project-level financials of the Ansal Group, bank account details of 174 subsidiaries and group companies of Ansal API were seized, the ED officials said, sharing a press note. The officials also said a detailed list of 62 immovable properties worth ₹ 217.80 crore held in the name of Pranav Ansal, his family members, and associated entities, was recovered from a mobile device seized from a searched premise. The PMLA investigation was initiated against Ansal API and its senior management based on more than 100 FIRs registered across Uttar Pradesh, Delhi, Haryana, and Punjab, alleging large-scale fraud, criminal breach of trust and cheating of homebuyers, the officials said. They added that the FIRs collectively indicate a fraud involving over ₹ 135.51 crore, wherein investors and homebuyers were lured into projects that were either never completed or never handed over, and the collected funds were allegedly siphoned off. 'During investigation it was revealed that a significant portion of the buyers' money was diverted and misappropriated. Despite multiple summons, the senior management failed to cooperate with the investigation and did not provide the required financial details,' a senior ED official said. First Published: 4 May 2025, 06:49 AM IST
Hindustan Times
03-05-2025
- Business
- Hindustan Times
ED seizes bank account details of 174 subsidiaries, group companies of Ansal API
The Lucknow zonal unit of the Enforcement Directorate (ED) seized several incriminating documents and digital devices during search operations conducted under provisions of the Prevention of Money Laundering Act (PMLA), 2002 in the Ansal Properties and Infrastructure Limited (Ansal API) case, ED officials confirmed on Saturday. The searches were conducted on Wednesday (April 30) on five premises, including residences of Pranav Ansal (promoter- director), Deepak Movar (director) and other senior employees and at corporate offices of Ansal API across Lucknow, Ghaziabad, and New Delhi, the ED officials said. Financial details, project-level financials of the Ansal Group, bank account details of 174 subsidiaries and group companies of Ansal API were seized, the ED officials said, sharing a press note. The officials also said a detailed list of 62 immovable properties worth ₹217.80 crore held in the name of Pranav Ansal, his family members, and associated entities, was recovered from a mobile device seized from a searched premise. The PMLA investigation was initiated against Ansal API and its senior management based on more than 100 FIRs registered across Uttar Pradesh, Delhi, Haryana, and Punjab, alleging large-scale fraud, criminal breach of trust and cheating of homebuyers, the officials said. They added that the FIRs collectively indicate a fraud involving over ₹135.51 crore, wherein investors and homebuyers were lured into projects that were either never completed or never handed over, and the collected funds were allegedly siphoned off. 'During investigation it was revealed that a significant portion of the buyers' money was diverted and misappropriated. Despite multiple summons, the senior management failed to cooperate with the investigation and did not provide the required financial details,' a senior ED official said.
Time of India
02-05-2025
- Business
- Time of India
ED completes searches in Ansal API land scam case
Lucknow: The Directorate of Enforcement (ED), Lucknow zonal office, on Friday completed searches on five premises across Ghaziabad, Lucknow and New Delhi in Ansal Properties & Infrastructure Ltd. (Ansal API) and others in connection with multi-million land scam. The searches were being conducted at the residences of Pranav Ansal (promoter/director), Deepak Movar (director), other senior employees and the corporate offices of Ansal API under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 since April 30. The probe was based on over 100 FIRs registered across Uttar Pradesh, Delhi, Haryana and Punjab, alleging large-scale fraud, criminal breach of trust, and cheating of homebuyers. The FIRs collectively indicate a fraud involving over Rs 135.51 crore, wherein investors and homebuyers were lured into projects that were either never completed or handed over. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like CFD: Invest $200 in stocks without buying stocks to earn a second salary. - better TradeLG Undo During probe, it was revealed that a significant portion of the buyers' money was diverted and misappropriated. Despite multiple summons, the senior management failed to cooperate with the investigation and did not provide the required financial details. During the searches, several incriminating documents and digital devices were seized. These include financial details, project-level financials of the Ansal Group, and bank account details of 174 subsidiaries/group companies of Ansal API. A list of 62 immovable properties worth Rs 217.80 crore, held in the name of Pranav Ansal, his family members and associated entities was recovered from a seized mobile device. The ED action follows a report by UPRERA that uncovered serious financial irregularities by the real estate firm. In April, the Income Tax department also searched APIL's Lucknow premises and seized documents related to alleged tax evasion and suspicious transactions. The company's expansion was previously facilitated through controversial policy relaxations, extending its township licence from 1,335 to 6,500 acres under the 2003 Hi-Tech Township Policy.
Time of India
01-05-2025
- Business
- Time of India
2 more fraud cases lodged against Ansal grp
Lucknow: Two separate cases of alleged fraud were registered against Ansal Properties and Infrastructure Ltd. and its owner, Pranav Ansal , at the Sushant Golf City police station. Tired of too many ads? go ad free now Investors accused the real estate firm of cheating them under the guise of property allotments. In the first complaint, Shubhav Gupta, a resident of Mill Road in Aishbagh, alleged that in 2013-14, he was shown a layout plan and offered a residential unit by Pranav Ansal and his staff. Trusting the documents presented to him, Gupta invested Rs 1.32 lakh and received a payment receipt from the company. Gupta stated that the company assured him of prompt possession and registration of the said unit. However, when he approached their office to complete the registry, he was met with repeated delays and evasive responses. Later, he discovered that the same unit was allegedly sold to another buyer at a higher price. In his complaint, Gupta accused the company of document forgery, fraud, and breach of trust, stating, "They tampered with the original documents, cheated me out of my money, and caused immense mental and financial distress. Eventually, they shut down the office and vanished." Based on his allegations, a case was registered under relevant sections of BNS, and an investigation is underway. In a separate incident, Ravindra Kumar, a resident of Udaiganj in Lucknow, claimed he was duped of Rs 70,000 by Ansal Properties under their Aasra and Bharosa housing schemes. Ravindra invested in Sept 2013, under which he was allotted a plot in the K6 block. Tired of too many ads? go ad free now According to him, the amount was paid in three instalments as per terms of the scheme. However, more than 11 years later, there has been no development or construction on the promised site. "The company kept demanding the full amount, but they haven't even started work on the block," said Ravindra.
