U.P. government to reopen cases against Ansal API

The Uttar Pradesh government is set to reopen all cases against Ansal API, a property developer. This includes an Enforcement Directorate (ED) investigation that was unexpectedly halted three years ago. Officials want to understand why the probe was stopped and if any officials were involved. The ED had been looking into complaints against Ansal API and had already gathered important information. It had filed cases not just in Uttar Pradesh but also in Punjab, Haryana, Delhi, and Rajasthan. Now that the cases are being revived, the ED is also focusing on a non-resident Indian (NRI) who allegedly invested ₹150 crore in the company. The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) is also speeding up its pending cases against Ansal API. The chairman, Sanjay Bhoosreddy, stated that the developer has not complied with 1,234 orders. The authority has issued recovery certificates totaling over ₹113 crore due to Ansal API’s non-compliance with its regulations. Additionally, a penalty of ₹14.40 crore was imposed on Ansal API for unlawfully registering sale deeds for plots. The UP RERA has sent these recovery requests to the district magistrate and shared details with an insolvency resolution professional. Notably, Ansal API recently filed for bankruptcy. The company's projects have faced multiple issues and delays. A recent FIR lodged by the Lucknow Development Authority claims that Ansal API sold mortgaged land illegally and failed to complete required development work. Many homebuyers are still waiting for possession of their plots, despite having made payments. The government is also investigating land acquired for the Defence Corridor project under the previous district magistrate, further indicating ongoing scrutiny of Ansal API's operations.