ED's Mega Land Attachment: The Rs 598 Crore Blow to Realty Giant

The Enforcement Directorate (ED) announced on Wednesday that it has attached land worth Rs 598 crore in Uttar Pradesh's Agra district. This action is part of a broader money laundering investigation into Ansal Properties and Infrastructure Ltd. (APIL), a real estate developer accused of irregularities in land dealings.

The controversial case revolves around alleged misconduct in the acquisition and subsequent release of land in Gurugram, Haryana, originally intended for public development. However, the land was reportedly transferred to private developers through dubious means, undermining statutory land acquisition safeguards.

Stemming from a January 2019 FIR filed by the CBI upon the Supreme Court's instruction, the probe revealed that APIL had manipulated agreements with landowners, acquiring land at rates below market value. The land has since been developed for projects, losing its original identity.