New Delhi. The Enforcement Directorate (ED) has arrested two promoters of a Gurugram-based realty group in a money laundering case linked to alleged fraud involving homebuyers. According to the agency, Anil Bhalla, Chairman-cum-Managing Director of Vatika Limited, and group promoter Gautam Bhalla were taken into custody on September 28. They were produced before a special Prevention of Money Laundering Act (PMLA) court in Gurugram on Tuesday and were sent to ED custody until October 3.
The money laundering investigation was initiated on the basis of an FIR registered by the Economic Offences Wing of Delhi Police. The FIR contains allegations against Vatika Group and its promoters of fraudulent inducement, non-delivery of residential plots and other related offences. The ED said it has examined documents and other material collected during the investigation to establish the roles of the two promoters.
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According to the ED, Anil Bhalla personally supervised key business decisions connected with the transactions under investigation. Gautam Bhalla, meanwhile, was a key promoter of the group and was involved in executing important agreements, holding directorships in land-owning entities and exercising control over their operations. The agency has alleged that major decisions related to the transactions were taken jointly by the two promoters.
The investigating agency said that between 2010 and 2012, seven purchaser entities paid around ₹260 crore upfront to Vatika Limited for residential plots in its Vatika India Next and Vatika India Next-2 projects in Gurugram. Plot-wise agreements were subsequently executed in 2014 and 2015.
The ED has alleged that the layouts of the projects were later revised. Plots that had originally been allotted to purchasers were renumbered or relocated. According to the agency, despite these changes, the project land continued to be allotted and sold to different purchasers.
The investigation has also raised concerns over the delivery of plots in the Vatika India Next-2 project. According to the ED, purchasers had paid around ₹90 crore for plots covering approximately 1.10 lakh square yards in the project. However, even after nearly 14 years, not a single plot from this portion has allegedly been delivered. Delivery in the Vatika India Next project has also remained incomplete, the agency said.
The ED said that plots worth approximately ₹140.73 crore across the two projects allegedly remain undelivered to purchasers. The agency is now examining how the money received from the purchasers was utilised and whether the transactions involved proceeds of crime under the provisions of the anti-money laundering law.
The roles of the two arrested promoters are being examined through documents, agreements and land-related records, the agency said. The investigation is also looking into the operation of the projects, commitments made to purchasers and transactions involving the entities that owned or controlled the project land.
No immediate response was available from the company or the two promoters. The court has allowed the ED to question both accused until October 3. Further investigation is expected to examine the flow of funds received from purchasers, allocation and sale of project land, and transactions between the entities associated with the projects.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
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