New Delhi: Pranav Ansal of Ansal properties and Infrastructure Ltd has secured bail and has been release from judicial custody.
Ansal was first detained and later arrested by the police at the IGI Airport in Delhi in September 2019 as he was on his way to London.
“Pranav Ansal, Vice-Chairman and Whole Time Director of the Company has got bail from Allahabad High Court, Lucknow Branch (Court) and has been released from the Judicial Custody on the 11th February, 2020,” Ansal API said in a regulatory filing.
The other officials of the company who were also sent to judicial custody “for customer related issues” have also been able to secure bail.
Ansal was arrested as there are various cases of fraud against him. A lookout notice was issued by Lucknow Police against Ansal when the city police many complaints from the customers of the company.
In June last year, a non-bailable warrant was issued by a Lucknow-based court to nab Ansal based on a plaint filed by one of the customers of Ansal API, accusing him of fraud. Ansal has more than two dozen cases of against him in Lucknow itself.
The company incurred a net loss of Rs 60 crore in 2018-19 fiscal and of Rs 38.58 crore in the 2017-18 financial year.