ED arrests Vatika Group promoters in ₹154 crore money laundering case
New Delhi, Sep 30, 2026
Vatika Group's Chairman and MD Anil Bhalla and promoter Gautam Bhalla were arrested on Tuesday under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002
The Enforcement Directorate (ED) on Wednesday said it arrested Vatika Group’s Chairman and MD Anil Bhalla, and promoter Gautam Bhalla in a money laundering case linked to alleged fraudulent inducement and non-delivery of residential plots in Gurugram.
Anil and Gautam were arrested on Tuesday under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002, the ED said in a press release. They were produced before the Special Court (PMLA), Gurugram, on Wednesday and were remanded to ED custody till October 3. Further investigation is underway, the agency said.
The agency said its investigation was based on multiple FIRs registered by the Economic Offences Wing (EOW), Delhi Police, against Vatika Group, its promoter-directors and others, alleging fraudulent inducement, non-delivery of residential plots and other related offences.
According to the ED, seven purchaser entities paid around ₹260 crore upfront between 2010 and 2012 for residential plots in Vatika India Next in Sectors 84/85 and Vatika India Next-2 in Sector 88A, Gurugram.
The project layouts were subsequently revised, the originally allotted plots were renumbered or relocated, and the land continued to be allotted and sold to different purchasers, the ED added.
In Vatika India Next-2, not a single plot out of around 1.10 lakh sq yards purchased for approximately ₹90 crore has been delivered even after about 14 years, the ED said. Delivery in Vatika India Next has also been only partial, with plots worth around ₹140.73 crore remaining undelivered.
Furthermore, the ED said that money received from purchasers was transferred to other group companies and promoter-linked entities that were not part of the projects for which the funds were collected.
The agency said the project land was held through around 22 group companies, which had no employees or separate business activities and were primarily used to provide corporate guarantees and manage the land bank, including its mortgage to financial institutions.
In a separate 2024 transaction, Scaler Ventures paid ₹473.18 crore under a “Sell and Buy-Back Agreement.” The ED said only 15 of the 165 plots were bought back, while 14 of the remaining 150 plots were allegedly sold to third parties for around ₹13.62 crore without the knowledge or consent of Scaler Ventures.
The agency said the proceeds of crime in the case have been estimated at around ₹154.36 crore.
The ED had earlier conducted searches at seven premises under Section 17 of the PMLA. It said officials recovered and froze a Mercedes-Benz GLC 300, gold and diamond jewellery weighing over 1.3 kg valued at around ₹1.55 crore, and bank accounts and fixed deposits worth around ₹3.04 crore.
[The Business Standard]
