‘Real estate group sold land sans ownership’

LUCKNOW : Real estate giant Ansal API allegedly sold some plots of land to purchasers without getting the ownership transferred to its name, senior superintendent of police, Lucknow, Kalanidhi Naithani said on Sunday. When the initial purchaser raised an objection and demanded money back, the real estate firm sold the same land to another purchaser, he added.

He said the group authorities eventually returned the money to the initial investor after selling the land to another purchaser and pocketing the ‘difference’ in the price in the two transactions, which sometimes took place after a gap of fourfive years.

“Moreover, the group authorities have done registry of some plots without having their ownership by preparing fake documents,” the SSP said.

The police made the claim after vice-chairman of Ansal API group, Pranav Ansal, was arrested by Lucknow police on Sunday.

Naithani said the group authorities even got its employees to register fake cases against the investors to mount pressure on them whenever they demanded their hard earned money back.

He said the investigation officers of 24 cases were interrogating Pranav Ansal and trying to get more details. The investigation officers may apply in court for police remand of the accused if required, he added.

The real estate group is operational in the country since 1967. It has developed 19 townships in Delhi, National Capital Region, Rajasthan, Haryana, Punjab and Uttar Pradesh.

Despite repeated attempts to reach them, Ansal API officials were not available for comment.