Invest UP navigating a bumpy road after CEO’s suspension
Projects approved by Abhishek Prakash in the recent past are also under the lens.
LUCKNOW Invest UP came into existence around five years ago with the sole objective to propel Uttar Pradesh as the most favoured destination for investors. This nodal agency for attracting and tracking investments, which was moving in the right direction after inception, has of late been mired in controversy.
Things changed after its CEO Abhishek Prakash faced allegations of demanding a 5% commission for approving a ₹8000-crore solar power project from a Punjab-based company. Following a complaint by the investor, Prakash was suspended and a probe was ordered. More skeletons are likely to tumble out of the cupboard as the inquiry progresses.
Projects approved by him in the recent past are also under the lens. These include a ₹570 crore project in Farrukhabad for production of carbonated water, starch, gluten, animal fodder and a ₹1300 crore investment by a multinational company in Unnao.
“The ED will probe whether any commission was charged for approving these projects,” said an official.
A 2006-batch IAS officer, Abhishek Prakash assumed charge of CEO of Invest UP in 2022. Before this, he was district magistrate of Lucknow and also held additional charge of vice-chairman of the Lucknow Development Authority.
After the Enforcement Directorate (ED) took over the probe, approvals of projects in the recent past are also under scrutiny.
“The ED is collecting details of all projects approved during the tenure of Abhishek Prakash as CEO,” said a state government official.
“Projects approved and rejected by Abhishek Prakash as CEO of Invest UP will be under scanner. The ED will try to find out whether any commission was taken from the investor for approving his project. Similarly, if a project has been rejected, then whether this rejection is genuine or not,” added the official.
Prakash’s tenure as DM of Bareilly in 2012-14 is under scanner. BJP leader Mahesh Pandey and former chairman of Co-operative Federation Ltd, Bareilly, has written a letter to the ED seeking probe into the International City township approved by Prakash when he was DM of the district.
Invest UP media cell is under pressure from the state government to control the damage caused to the premier agency responsible for propelling investment in the state.
“But the incident has paved the way for quick approval of future projects. Now, Invest UP will go out of its way to assist an investor,” said an official.
The first step, which Invest UP has taken to control damage, is to ensure transparency in the land allotment process. The agency has sought details of vacant and allotted plots, establishment of industries and progress of various projects across the state from various industrial authorities, including UPSIDA, NOIDA, YEIDA, UPEIDA, GIDA and SIDA.
