GURUGRAM: The Gurugram zonal office of the Enforcement Directorate has attached a property valued at approximately ₹108 crore linked to a builder-investor case.
Officials report that Vatika Limited is under scrutiny for allegedly defrauding investors by failing to complete projects and not fulfilling promised returns.
The 1.35-acre commercial plot was seized under the Prevention of Money Laundering Act (PMLA).
The ongoing investigation is based on multiple FIRs filed with the Economic Offences Wing of the Delhi Police in 2021, where the company and its promoters, Anil Bhalla and Gautam Bhalla, face accusations of fraud, criminal conspiracy, and misleading investors.
Investigation findings indicate that about ₹248 crore was invested by 659 investors across four projects, including Vatika Inext City Centre Towers D, E, and F in Gurugram, Vatika Mindscapes Tower-C in Faridabad, and Vatika High Street in Gurugram. Many of these projects remain incomplete, and no conveyance deeds have been issued to investors. To date, the ED has already attached assets valued at ₹68.59 crore in this matter.
The authorities have also filed a prosecution complaint against Vatika, its promoters, and associated companies in the special PMLA court in Gurugram.
