ED Arrests Two Vatika Group Promoters in Gurugram Homebuyers Fraud Case

 

By The Realty Times | Real Estate News Services

New Delhi: The Enforcement Directorate (ED) has arrested two senior promoters of Gurugram-based Vatika Group in a money laundering investigation linked to alleged fraud involving homebuyers and plot purchasers.

Anil Bhalla, Chairman-cum-Managing Director of Vatika Limited, and promoter Gautam Bhalla were arrested on September 28 under the Prevention of Money Laundering Act (PMLA). A special PMLA court in Gurugram subsequently remanded them to ED custody until October 3.

According to the ED, the investigation originated from multiple FIRs registered by the Delhi Police Economic Offences Wing (EOW), alleging fraudulent inducement, criminal breach of trust, conspiracy and non-delivery of residential plots.

The 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 projects in Sectors 84 and 85 and Vatika India Next-2 in Sector 88A, Gurugram.

Plot-specific agreements were subsequently executed in 2014 and 2015. The ED has alleged that project layouts were later revised, resulting in plots being renumbered or relocated, while some of the land was allegedly allotted or sold to other purchasers.

The alleged shortfall is particularly significant in Vatika India Next-2. According to the ED, approximately 1.10 lakh square yards of land purchased for ₹90 crore has not been delivered even after around 14 years.

Delivery in Vatika India Next was also allegedly only partial. The agency has estimated that plots with a value of approximately ₹140.73 crore remain undelivered across the projects under investigation.

The allegations relate to transactions involving several purchaser entities, including SEH Realtors, HA Realtors/AHP, Span India/Positive Buildwell, Span India/Span Holdings and Scaler Ventures.

The money laundering investigation is also examining the movement of funds collected from buyers.

According to the ED's allegations, funds from project-related accounts were transferred to other group and promoter-linked entities. The agency has estimated the alleged proceeds of crime at around ₹154.4 crore.

The ED has also alleged that a network of around 22 group companies was used to hold project land, provide corporate guarantees and raise finance. The agency is examining whether customer funds were diverted away from the projects.

The ED has said that Anil Bhalla supervised key decisions related to the transactions under investigation, while Gautam Bhalla executed important agreements and exercised control over land-owning entities. The agency has alleged that major decisions were taken jointly by the two promoters.

The latest arrests follow earlier enforcement action in the Vatika case. In November 2025, the ED said it had provisionally attached a 1.35-acre commercial plot valued at approximately ₹108 crore in connection with a separate builder-investor investigation involving Vatika Limited.

The agency had said that 659 investors invested approximately ₹248 crore across four projects, alleging that the projects remained incomplete or were deferred and that conveyance deeds had not been executed. The ED said total provisional attachment in that case had reached approximately ₹176 crore at the time of its November 2025 statement.

The latest action puts the spotlight on long-running disputes involving purchasers of Vatika's residential and commercial projects in the Gurugram region.