ED Arrests Vatika Group CMD And Promoter In ₹154 Crore Money-Laundering Case
Gurugram: The Enforcement Directorate (ED), Gurugram Zonal Office, has arrested Anil Bhalla, Chairman-cum-Managing Director of M/s Vatika Limited, and Gautam Bhalla, a promoter of the Vatika Group, in connection with a money-laundering investigation linked to alleged fraudulent inducement and non-delivery of residential plots.
The two were arrested on September 28, 2026, under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002. They were produced before the Special Court (PMLA), Gurugram, on September 29, which remanded them to ED custody until October 3, 2026.
The ED had registered an Enforcement Case Information Report (ECIR) against Vatika Limited, its promoter-directors Anil Bhalla, Gautam Bhalla and Gaurav Bhalla, along with others. The case stems from multiple FIRs registered by the Economic Offences Wing (EOW) of Delhi Police under Sections 420, 406 and 120-B of the IPC, relating to allegations of fraudulent inducement, non-delivery of residential plots and other offences.
According to the ED investigation, seven purchaser entities paid around ₹260 crore between 2010 and 2012 to Vatika Limited as the full sale consideration for residential plots in the company’s Vatika India Next projects in Sectors 84/85 and Vatika India Next-2 in Sector 88A, Gurugram.
Plot-wise agreements were subsequently executed in 2014 and 2015. However, the agency said that the project layouts were later revised, with originally allotted plots being renumbered or relocated. The investigation also found that the project land continued to be allotted and sold to other purchasers.
In Vatika India Next-2, the ED said that none of the plots covering around 1.10 lakh square yards, purchased for approximately ₹90 crore, had been delivered even after nearly 14 years. Delivery in Vatika India Next was also found to be only partial, with plots valued at around ₹140.73 crore still remaining undelivered, according to the agency.
The investigation further found that Anil Bhalla personally supervised key decisions relating to the transactions under investigation. Gautam Bhalla, described by the ED as a key promoter of the group, allegedly executed important agreements, held directorships in land-owning companies and exercised control over their operations. The agency said that major decisions were taken jointly by the two individuals.
The ED also found that the project land was held through around 22 group companies. According to the agency, these companies had no employees or independent business activities and were primarily used for managing the group’s land bank and providing corporate guarantees, including for mortgages with financial institutions.
An analysis of Vatika Limited’s bank accounts allegedly showed that money received from purchasers was not used exclusively for the projects for which it had been collected. Instead, funds were transferred to other group companies and promoter-linked entities that were not directly associated with those projects.
In a separate transaction in 2024, Scaler Ventures reportedly paid ₹473.18 crore under an Agreement to Sell and a Buy-Back Agreement. The ED said that only 15 of the 165 plots were bought back. Subsequently, 14 of the remaining 150 plots were allegedly sold to third parties for around ₹13.62 crore without Scaler’s knowledge or consent.
Based on the investigation so far, the proceeds of crime in the case have been quantified at approximately ₹154.36 crore, according to the ED.
Earlier, the agency had conducted searches at seven premises under Section 17 of the PMLA. During one of the searches, officials recovered and froze a Mercedes-Benz GLC 300, gold and diamond jewellery weighing more than 1.3 kg and valued at approximately ₹1.55 crore, along with bank accounts and fixed deposits worth around ₹3.04 crore.
The ED said further investigation into the case is underway.
News Source : Information for this article was gathered from a variety of reliable news outlets.
