The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) Monday said it has issued show cause notices to Ansal Properties and Infrastructure over alleged fraud and diversion of funds.
In October 2018, the authority ordered forensic audit in registered projects with a view to investigate into the affairs, especially the accounts of Ansal API to find out the possible diversion of funds, and causes of inordinate delays, among others.
The authority had also appointed Currie and Brown (C&B) for conducting the forensic audit, it said in a statement.
“The show cause notices have been issued to the developer following a report submitted by forensic auditor that had investigated 91 projects of Ansal API over the last three months for financial misappropriation.