The Enforcement Directorate (ED) has seized multiple incriminating documents and digital devices during search operations conducted under the Prevention of Money Laundering Act (PMLA), 2002in connection with the Ansal Properties and Infrastructure Limited (Ansal API) case.
The raids were carried out on April 30, across five premises located in Lucknow, Ghaziabad, and New Delhi, ED officials confirmed on Saturday.
The searches targeted residences and offices linked to Pranav Ansal (promoter-director), Deepak Movar (director),and other key personnel of Ansal API. The ED recovered crucial financial records, including project-level data, bank account details of 174 subsidiaries and group companies, and a list of 62 immovable properties valued at ₹217.80 crore held by Pranav Ansal, his family, and associated entities.
The ongoing PMLA probe is rooted in over 100 FIRs registered across Uttar Pradesh, Delhi, Haryana, and Punjab, which allege large-scale fraud, criminal breach of trust, and cheating of homebuyers. According to ED officials, the total value of the fraud is estimated to exceed ₹135.51 crore.
The agency revealed that investor and homebuyer funds were diverted and misappropriated, with several real estate projects either remaining incomplete or never being delivered to buyers. Despite being summoned multiple times, the senior management of Ansal API allegedly failed to cooperate with the investigation and did not furnish the required financial records.
A senior ED officer stated, “The evidence recovered during the searches strongly indicates financial mismanagement and laundering of funds. Investigations are ongoing, and further action will be taken based on forensic analysis of the seized materials.”
The Enforcement Directorate continues to scrutinize digital data and documents to trace the money trail and identify beneficiary accounts, as the probe into one of India’s major real estate fraud cases intensifies.
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