Property Probe
ACB Probe Into IAS Officer Shikhar Agrawal Over 40 Ananta Resort Units in Udaipur and Alwar
The Rajasthan Anti-Corruption Bureau is investigating IAS officer Shikhar Agrawal and his family over allegations that they bought around 40 villas and cottages from Goyal Fashions Private Limited, operator of the Ananta resort brand, in Udaipur and Alwar. The allegations have not been proven, and the state government has placed Agrawal and his IPS wife, Prashakha Mathur, on Awaiting Posting Orders (APO).
| Investigating agency | Rajasthan Anti-Corruption Bureau (ACB) |
|---|---|
| Prior approval for probe | Granted under Section 17A of the Prevention of Corruption Act, 1988, on 30 October 2026 |
| Officers placed on APO | Shikhar Agrawal (1993-batch IAS) and Prashakha Mathur (1995-batch IPS), as of 31 October 2026 |
| Units in question | About 40 resort units (one report says 36), at Bujhda in Udaipur and Ajabgarh in Alwar |
| Reported purchase prices | ₹15 lakh per villa at Bujhda; ₹16.5 lakh per villa at Ajabgarh |
| Reported leaseback rent | ₹4 lakh a year per cottage at Bujhda; ₹5 lakh a year per villa at Ajabgarh; about ₹1.80 crore a year in total |
| Developer | Goyal Fashions Private Limited, Jaipur (incorporated 6 March 1981) |
What happened
The state government approved an ACB probe on Friday, 30 October 2026. ACB Director General Govind Gupta said the government had granted prior approval under Section 17A of the Prevention of Corruption Act, 1988, to investigate Agrawal, the directors of Goyal Fashions and other individuals.
The probe follows a preliminary inquiry. It was triggered by a media report published on 27 October 2026, along with reports from the Industries Department and confidential sources. Some reports spell the officer's name as Agarwal.
Officials said a formal FIR could be registered against Agrawal if the preliminary inquiry substantiates the allegations.
The allegations
The ACB alleges that Agrawal colluded with directors of Goyal Fashions to secure relaxations in construction norms, approvals made without mandatory certificate checks, and a custom concessional financial package. The bureau says the purchases were made from a single real estate company and were reported at prices well below market value.
According to the ACB, the Finance Department issued a special concessional financial package to the company on 27 March 2026. One report puts its value at approximately ₹115 crore. This is a single-source figure.
The ACB will examine possible misuse of official position and whether the family accumulated assets that were disproportionate to known sources of income.
The officers and the APO orders
Agrawal, a 1993-batch IAS officer, held several senior posts before being placed on APO, including Additional Chief Secretary for Industries, MSME, State Undertakings and the Delhi-Mumbai Industrial Corridor (DMIC). Reports differ on the exact date of his removal, with some citing 28 October and others the night of 29 October 2026. Both are late October.
The APO order was signed by Joint Secretary to Government Dheeraj Kumar Singh. It says Agrawal is placed under APO until further orders for administrative reasons.
On Saturday, 31 October 2026, the government placed Prashakha Mathur, a 1995-batch IPS officer who was serving as ADGP for planning, modernisation and welfare, on APO. The Department of Personnel issued show-cause notices to both officers on 30 October 2026. The notices ask each to explain why the online immovable property statements they have filed since 2021 did not reflect the transactions brought to the government's attention.
The properties and deal terms
Reports describe two sets of purchases. At Bujhda in Udaipur, the Ananta Udaipur is located in Village Bujhda, Tehsil Girwa Road, Kodiyat. Reports say the couple bought cottages there at about ₹15 lakh each, with 20 units in total at this property in most reports. At Ajabgarh in Alwar, the Ananta Spa & Resort is the property concerned. Reports say villas there were bought at ₹16.5 lakh each.
Unit counts differ between reports. Most say 40 units. One report says the ACB's preliminary findings identify 36 villas, made up of 20 at Bujhda and 16 at Ajabgarh.
Each set of sale and lease documents was registered on the same day at the relevant sub-registrar office. Reports differ on dates. One gives 29 September 2023 for the 20 Bujhda cottages, while another dates them to March 2026. The Ajabgarh registrations are dated 27 March 2026.
After the purchases, the family leased all 40 units back to Goyal Fashions. Reports put the guaranteed rent at ₹4 lakh a year per Bujhda cottage and ₹5 lakh a year per Ajabgarh villa, or about ₹15 lakh a month across all units.
Reports say 28 of the 40 properties were registered in the names of Agrawal and Mathur, 14 each. Agrawal's income disclosure reportedly lists his 14 properties, but Mathur's return does not mention the 14 registered in her name. One report puts the market price of each villa at about ₹1.6 crore. This figure is reported and has not been independently checked.
The company
Goyal Fashions Private Limited is a private company incorporated on 6 March 1981, with its registered office at Goyal House, 24, Ajmer Road, Jaipur. Sanjay Goyal is the Managing Director. Mukund Goyal, Mohit Goyal and Ashutosh Goyal are directors. The company describes itself as a business conglomerate with interests in textiles, hospitality, education and investment. It also runs the AIHMAS education institute.
The company runs Ananta-branded hotels and resorts. One report says it operates 14 properties nationally, including Pushkar, Ranthambore and Kota. The group uses a fractional sale-and-leaseback model, in which individual cottages or villas are sold to buyers and leased back to the operator. The Ananta Udaipur has 242 rooms and an outdoor pool, according to listing data. It opened in 2013 and was renovated in 2015.
What it means for buyers and investors
The case concerns the sale-and-leaseback structure rather than a new launch or a sales offer. Buyers of fractional or leaseback units depend on the operator's ability to pay rent, so the allegations about the single-company sale, the concessional package and below-market prices are relevant to anyone weighing similar deals.
One publication calculated an annual yield of 30.3% on the ₹16.5 lakh Ajabgarh villas. That figure is the publication's own arithmetic on reported rent and price, not a verified return.
No source has reported an effect on home buyers or on local property prices in Udaipur or Alwar. Congress leaders have questioned how an officer who until recently headed the Chief Minister's Office could accumulate 40 luxury resort units. Former Chief Minister Ashok Gehlot has called for CBI and ED investigations.
What comes next
As of 3 November 2026, the key steps are these:
- Show-cause replies: the notices asked for a clarification within seven days of 30 October 2026, which puts the deadline at about 6 November 2026.
- Agrawal's questioning: expected after he returns from abroad. No date has been reported.
- Scope: one report says the ACB plans to review Agrawal's full tenure, back to his posting as Udaipur collector.
- Mathur: no formal inquiry has been announced against her, though sources say the probe could be widened to include her.
- Outcome: the allegations remain unproven, and no finding has been reported.
Frequently asked questions
What is the ACB investigating?
The Rajasthan Anti-Corruption Bureau is investigating allegations that IAS officer Shikhar Agrawal colluded with the directors of Goyal Fashions to obtain regulatory relaxations and a concessional financial package. Reports also say he and his family bought around 40 resort units from the company. The allegations are unproven.
Who has been placed on Awaiting Posting Orders?
Shikhar Agrawal, a 1993-batch IAS officer, was placed on APO in late October 2026. His wife, Prashakha Mathur, a 1995-batch IPS officer, was placed on APO on 31 October 2026. Both were placed on APO until further orders.
How many units are involved?
Most reports say about 40 units. One report says the ACB's preliminary findings identify 36 villas, 20 at Bujhda in Udaipur and 16 at Ajabgarh in Alwar.
What rent were the units leased back for?
Reports say the family leased the units back to Goyal Fashions at ₹4 lakh a year per cottage at Bujhda and ₹5 lakh a year per villa at Ajabgarh, or about ₹1.80 crore a year in total.
What happens next in the probe?
Both officers must answer show-cause notices within seven days of 30 October 2026. Agrawal is expected to be questioned after he returns from abroad, and the ACB may widen its probe to include Mathur. If the preliminary inquiry substantiates the allegations, a formal FIR could follow.