Investment Applications Without PAN Card Will No Longer Be Accepted in Uttar Pradesh

 

Companies seeking to invest in Uttar Pradesh will now be required to submit complete details, including their Permanent Account Number (PAN), along with their investment applications.

Invest UP, the state’s investment promotion agency, has started preparations to implement this new system aimed at curbing fraudulent investments. Officials stated that companies failing to provide their PAN details will have their proposals automatically rejected.

 

Before issuing any Memorandum of Understanding (MoU), the agency will thoroughly verify the company’s credentials with relevant departments.

This policy shift comes amid efforts to bring greater transparency and accountability into the investment process. Over the past few years, the state has attracted significant domestic and international investments, with several major firms committing substantial funds.

 

According to officials, a key motivation behind the move is to ensure that only serious investors with verified credentials are considered for approvals and benefits.

Last year, during the Global Investors Summit, Uttar Pradesh signed MoUs worth ₹13,500 crore across all districts for the establishment of 750 data centers. Among the largest investors was Punjab-based Bhutani Infra Group, which committed significant sums.

 

In addition, Adani Group announced plans to set up a data center with a storage capacity of 100 MW at an estimated cost of ₹3,558 crore.

 

Speaking on the initiative, Invest UP CEO Abhishek Prakash said the new system will further improve transparency and protect the state from fraudulent proposals. “From now on, submission of PAN card details will be mandatory for any company applying to invest in Uttar Pradesh,” he confirmed.