The Enforcement Directorate has arrested Vatika Group Chairman and Managing Director Anil Bhalla and promoter Gautam Bhalla in a PMLA investigation concerning alleged non-delivery of residential plots in Gurugram. The agency said the arrests followed FIRs registered by the Delhi Police Economic Offences Wing over alleged cheating, criminal breach of trust and related offences. The two were produced before a Special PMLA Court in Gurugram and sent to ED custody until October 3. The allegations remain subject to investigation and judicial proceedings.
Vatika Group Promoters Anil Bhalla and Gautam Bhalla Arrested in ₹154 Crore ED Case
Promoter Gautam Bhalla and Vatika Group Chairman and Managing Director Anil Bhalla have been arrested in a money laundering probe into alleged non-delivery of residential plots in Gurugram.
The Enforcement Directorate (ED) has said that the money laundering case against the Vatika Group is related to charges of fraudulent inducement, non-delivery of residential plots and movement of funds of purchasers through related entities.
Vatika Group Chairman and Managing Director Anil Bhalla and promoter Gautam Bhalla were arrested Tuesday under Section 19 of the Prevention of Money Laundering Act, 2002, the ED said.
Both were produced before the Special Court (PMLA), Gurugram, on Wednesday and were sent to ED custody till October 3, while the investigation is on.
ED investigation follows multiple FIRs against Vatika Group
The ED said it took cognisance based on several FIRs filed by Economic Offences Wing (EOW), Delhi Police, against Vatika Group, its promoter-directors and others.
The agency said the cases, filed under the charges of conspiracy, cheating and criminal breach of trust, allege fraudulent inducement, non-delivery of residential plots and related offences involving projects developed across Gurugram, Haryana.
Seven buyer entities are said to have paid around Rs 260 crore upfront for residential plots in Vatika India Next, Sectors 84 and 85, between 2010 and 2012.
The buyers also paid for plots in Vatika India Next-2, Sector 88A, Gurugram, where the ED alleged that the original allotted properties were impacted by the subsequent changes in the project.
The agency said that project layouts were revised, original allotted plots renumbered or shifted, while the same land continued to be allotted and sold to different buyers.
Of the plots bought in Vatika India Next-2 for Rs 90 crore, over 1.10 lakh square yards, none had been delivered after about 14 years, the ED said.
The agency also alleged that the delivery of plots in Vatika India Next was also partial and plots worth approximately ₹140.73 crore were not delivered.
Funds, group companies and alleged proceeds of crime
The ED also alleged that the money collected from the buyers was diverted to other companies of the Vatika Group and entities linked to the promoters, which had no connection with the projects for which the money was collected.
Project land was held through about 22 group companies that had no employees or separate business activities and were mostly for land-bank management, the agency said.
These entities also provided corporate guarantees and facilitated the mortgaging of project land to financial institutions, the ED said, as part of the financial structure under investigation.
The ED’s probe into the alleged financial transactions associated with the group also comprises a separate 2024 transaction involving Scaler Ventures.
The agency said only 15 of 165 plots were subsequently bought back, with Scaler Ventures paying ₹473.18 crore under a “Sell and Buy-Back Agreement”.
The ED claimed that of the remaining 150 plots, 14 were sold to third parties for a sum of about ₹13.62 crore without the knowledge or consent of Scaler Ventures.
The agency has calculated the alleged proceeds of crime in the case to be around ₹154.36 crore, based on the transactions and circumstances it identified during its investigation.
Searches uncover assets as investigation continues
Earlier, the ED had conducted searches at seven premises under Section 17 of the Prevention of Money Laundering Act in its investigation into the alleged financial irregularities.
Officials seized and froze a Mercedes-Benz GLC 300 and gold and diamond jewellery weighing over 1.3 kilograms during those searches.
Around ₹1.55 crore worth of jewellery was seized and bank accounts and fixed deposits of about ₹3.04 crore were frozen, the agency said.
The arrests and custody proceedings have brought the probe to its latest stage, and the ED continues to investigate the transactions, allotment of properties and movement of funds.
We will keep you updated on this case with any further court action, investigation results, and responses from Anil Bhalla, Gautam Bhalla, or anyone else who may be named by authorities.
The allegations are part of the ongoing legal proceedings, and the ED’s claims have not been adjudicated by a court of law.
