ED arrests Vatika executives in alleged plot-sale money-laundering case
India’s Enforcement Directorate has arrested Vatika Limited chairman Anil Bhalla and promoter Gautam Bhalla in an alleged money-laundering investigation involving residential plots in Gurugram. The agency alleges that buyers paid large sums for land that was later relocated, resold or left undelivered, and that funds moved beyond the projects.
India’s Enforcement Directorate has arrested Vatika Limited chairman-cum-managing director Anil Bhalla and promoter Gautam Bhalla in an alleged money-laundering case involving residential plots in Gurugram. The agency’s case under the Prevention of Money Laundering Act is based on several First Information Reports registered by the Delhi Police Economic Offences Wing. The allegations concern fraudulent inducement and the non-delivery of residential plots.
According to the ED, seven purchaser entities paid ₹260 crore between 2010 and 2012 as the full sale consideration for plots in Vatika India Next, in Sectors 84 and 85, and Vatika India Next-2, in Sector 88A. Plot-wise agreements were later executed in 2014 and 2015. The agency alleged that project layouts were subsequently revised, with plots renumbered or relocated, while the land continued to be allotted and sold to other buyers.
It said that no plot from about 1.10 lakh square yards purchased for approximately ₹90 crore in Vatika India Next-2 had been delivered after nearly 14 years. The ED said delivery in Vatika India Next was only partial, leaving plots valued at about ₹140.73 crore undelivered. It also alleged that the land was held through about 22 group companies without employees or separate business activities, which were used mainly for corporate guarantees, land-bank management and mortgages.
The agency said its examination of Vatika Limited’s bank accounts indicated that buyers’ money was transferred to other group companies and promoter-linked entities rather than used exclusively for the relevant projects. The ED also cited a 2024 transaction involving Scaler Ventures, which paid ₹473.18 crore under sale and buy-back agreements. Of 165 plots, only 15 were allegedly bought back, while 14 of the remaining 150 were allegedly sold to third parties for about ₹13.62 crore without Scaler’s knowledge or consent.
These are allegations reported by the agency.
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