Ansal Properties & Infrastructure Limited has informed the Stock Exchanges that the Enforcement Directorate had conducted Search and Seizure proceedings at the offices of Ansal Properties and Infrastructure Limited (Company), inter-alia, located at Delhi and Lucknow w.e.f the 30th April, 2025. The aforesaid proceedings were concluded at Delhi office on 01st May, 2025 (as intimated vide letter dated 01st May, 2025) and subsequently at Lucknow office later on the same day i.e on 01st May, 2025.
ANSALAPI · price
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The Enforcement Directorate (ED) carried out search and seizure proceedings at Ansal Properties' offices in Delhi and Lucknow starting 30th April 2025, concluding on 1st May 2025. The action was taken under Section 17 of the Prevention of Money-Laundering Act, 2002. The company stated it fully cooperated with the authorities but could not quantify the financial impact. The company is already undergoing Corporate Insolvency Resolution Process (CIRP) since 25th February 2025, and is being managed by Resolution Professional Shri Navneet Kumar Gupta.
This development adds another layer of regulatory trouble for an already insolvency-hit company, raising concerns about potential financial liabilities and the outcome of the ongoing resolution process. Shareholders may see heightened uncertainty around stock price and recovery prospects.