14 years on, plots still not delivered: ED arrests Vatika CMD, promoter in Gurugram case
In Vatika India Next-2, not a single plot from about 1.10 lakh square yards purchased for approximately Rs 90 crore has been delivered even after about 14 years
- Sep 30, 2026,
- Updated Sep 30, 2026 9:22 PM IST
The Enforcement Directorate (ED) has arrested Vatika Group chairman-cum-managing director Anil Bhalla and promoter Gautam Bhalla in a money laundering case linked to the alleged fraudulent sale and non-delivery of residential plots in Gurugram.
The ED arrested the two on September 28 under Section 19 of the Prevention of Money Laundering Act, 2002. They were produced before the Special Court (PMLA) in Gurugram and remanded to ED custody until October 3.
The case relates to multiple FIRs registered by the Economic Offences Wing of Delhi Police against Vatika Limited, its promoter-directors, and others under sections 420, 406 and 120-B of the IPC.
According to the probe agency, seven purchaser entities paid about Rs 260 crore between 2010 and 2012 as the full sale consideration for residential plots in Vatika India Next in Sectors 84 and 85 and Vatika India Next-2 in Sector 88A, Gurugram.
Plot-wise agreements were executed in 2014 and 2015. The agency said the project layouts were later revised, with originally allotted plots renumbered or relocated. The project land was also allotted and sold to other purchasers.
In Vatika India Next-2, not a single plot from about 1.10 lakh square yards purchased for approximately Rs 90 crore has been delivered even after about 14 years, the ED said.
Delivery in Vatika India Next has been only partial, it added. Plots worth about Rs 140.73 crore remain undelivered, according to the agency.
Money transferred to other group entities
The ED said its investigation found that Anil Bhalla personally supervised key decisions in the transactions under investigation. Gautam Bhalla, it said, was a key promoter who executed important agreements, held directorships in land-owning entities, and exercised control over their operations.
"Major decisions were taken jointly by these two persons," the agency said.
The project land was held through about 22 group companies, according to the ED. The companies had no employees or separate business activities and were mainly used to provide corporate guarantees and manage the land bank, including its mortgage to financial institutions.
The agency said an examination of Vatika Limited’s bank accounts showed that money received from purchasers was not used only for the projects for which it was collected. Instead, it was transferred to other group companies and promoter-linked entities that were not part of those projects.
ED puts proceeds of crime at Rs 154.36 crore
The ED also cited a separate 2024 transaction involving Scaler Ventures. It said Scaler Ventures paid Rs 473.18 crore under an Agreement to Sell and a Buy-Back Agreement.
Only 15 of the 165 plots were bought back, the agency said. It alleged that 14 of the remaining 150 plots were later sold to third parties for about Rs 13.62 crore without Scaler Ventures' knowledge or consent.
The proceeds of crime quantified so far in the case are about Rs 154.36 crore, according to the ED.
The agency had earlier conducted searches at seven premises under Section 17 of the PMLA. From the residential premises of one accused, it recovered a Mercedes-Benz GLC 300 and gold and diamond jewellery weighing more than 1.3 kg and valued at about Rs 1.55 crore. Bank accounts and fixed deposits worth about Rs 3.04 crore were also recovered and frozen, the ED said.
The Enforcement Directorate (ED) has arrested Vatika Group chairman-cum-managing director Anil Bhalla and promoter Gautam Bhalla in a money laundering case linked to the alleged fraudulent sale and non-delivery of residential plots in Gurugram.
The ED arrested the two on September 28 under Section 19 of the Prevention of Money Laundering Act, 2002. They were produced before the Special Court (PMLA) in Gurugram and remanded to ED custody until October 3.
The case relates to multiple FIRs registered by the Economic Offences Wing of Delhi Police against Vatika Limited, its promoter-directors, and others under sections 420, 406 and 120-B of the IPC.
According to the probe agency, seven purchaser entities paid about Rs 260 crore between 2010 and 2012 as the full sale consideration for residential plots in Vatika India Next in Sectors 84 and 85 and Vatika India Next-2 in Sector 88A, Gurugram.
Plot-wise agreements were executed in 2014 and 2015. The agency said the project layouts were later revised, with originally allotted plots renumbered or relocated. The project land was also allotted and sold to other purchasers.
In Vatika India Next-2, not a single plot from about 1.10 lakh square yards purchased for approximately Rs 90 crore has been delivered even after about 14 years, the ED said.
Delivery in Vatika India Next has been only partial, it added. Plots worth about Rs 140.73 crore remain undelivered, according to the agency.
Money transferred to other group entities
The ED said its investigation found that Anil Bhalla personally supervised key decisions in the transactions under investigation. Gautam Bhalla, it said, was a key promoter who executed important agreements, held directorships in land-owning entities, and exercised control over their operations.
"Major decisions were taken jointly by these two persons," the agency said.
The project land was held through about 22 group companies, according to the ED. The companies had no employees or separate business activities and were mainly used to provide corporate guarantees and manage the land bank, including its mortgage to financial institutions.
The agency said an examination of Vatika Limited’s bank accounts showed that money received from purchasers was not used only for the projects for which it was collected. Instead, it was transferred to other group companies and promoter-linked entities that were not part of those projects.
ED puts proceeds of crime at Rs 154.36 crore
The ED also cited a separate 2024 transaction involving Scaler Ventures. It said Scaler Ventures paid Rs 473.18 crore under an Agreement to Sell and a Buy-Back Agreement.
Only 15 of the 165 plots were bought back, the agency said. It alleged that 14 of the remaining 150 plots were later sold to third parties for about Rs 13.62 crore without Scaler Ventures' knowledge or consent.
The proceeds of crime quantified so far in the case are about Rs 154.36 crore, according to the ED.
The agency had earlier conducted searches at seven premises under Section 17 of the PMLA. From the residential premises of one accused, it recovered a Mercedes-Benz GLC 300 and gold and diamond jewellery weighing more than 1.3 kg and valued at about Rs 1.55 crore. Bank accounts and fixed deposits worth about Rs 3.04 crore were also recovered and frozen, the ED said.