Enforcement Directorate Probes ATS Group's Land Allotment and Dues

The Enforcement Directorate has requested land allotment and pending dues details from the Noida Authority concerning ATS Group's real estate dealings. As part of their inquiry under the PMLA, the ED seeks information on 63 companies linked to ATS, some of which are under insolvency proceedings.

The Enforcement Directorate (ED) has formally requested the Noida Authority to provide comprehensive details of land allotments and pending dues related to real estate developer ATS Group. This request forms part of an ongoing investigation under the Prevention of Money Laundering Act (PMLA), 2002, according to an official letter.

The ED's Lucknow zonal office is scrutinizing 63 companies linked to the developer, some of which are currently undergoing insolvency proceedings. In the request, the ED has asked for detailed records of land allotment to any of the group companies, specifying if they were sole bidders or part of a consortium.

Additionally, the ED has sought information on payments made by the group companies, any delays in these payments, and discrepancies found in project execution that violate allotment terms. The letter also requests details of any FIRs filed, cancellations of land allotments, or other coercive actions taken against the ATS Group or associated consortiums.

The Noida Authority, a statutory body under the Uttar Pradesh government, must supply these details by June 28. This comes after the authority issued a notice last week to the ATS Group, demanding a plan to settle over Rs 3,400 crore in dues, including interests and penalties, by May 31.

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