The Enforcement Directorate (ED) has attached properties of Vatika and Unitech Groups as part of a money-laundering investigation into alleged homebuyers fraud by the Gurugram-based Ramprastha Group. The latest action involves movable and immovable assets worth ₹80.03 crore.
Details of the Investigation and Attachment
The ED stated that the action was taken under the Prevention of Money Laundering Act (PMLA). The investigation alleges that Ramprastha Promoters and Developers Pvt Ltd (RPDPL) and its associated entities diverted funds collected from homebuyers to other group companies for advance payments and land purchases, instead of using them for the completion of the promised projects.
The agency said, “The attached assets include movable and immovable properties of Vatika and Unitech Groups, among others, where funds collected from homebuyers were allegedly misused by RPDPL.”
Background of the Investigation
The case arose from multiple FIRs filed by the Economic Offences Wing (EOW) of Delhi and Haryana Police. More than 2,000 homebuyers filed complaints against RPDPL and its promoters—Arvind Walia, Balwant Chaudhary, and Sandeep Yadav—for failing to deliver flats and plots within the promised timelines.
The probe revealed that RPDPL had launched several projects between 2008-2011, including Project Edge, Project Skyz, Project Rise, and Ramprastha City (across various Gurugram sectors). Possession of flats or plots is yet to be handed over to the buyers.
The company collected around ₹1,100 crore from homebuyers for these projects, but the promoters and directors allegedly diverted the funds to group companies for advance payments and land purchases instead of using them to complete the promised homes.
Previous Arrests and Current Status
In July, the ED had arrested RPDPL directors and majority shareholders Walia and Yadav. Both are currently in judicial custody.
With this latest attachment, the total value of assets attached and seized in the case now stands at ₹866 crore.
Statement from the Companies
At the time of reporting, neither Vatika nor Unitech could be reached for comment.
