ED arrests Vatika CMD over ₹154.36 crore plot fraud

This is a press release issued by the Directorate of Enforcement (ED), Gurugram Zonal Office, announcing the arrest of two senior executives of Vatika Limited under the Prevention of Money Laundering Act (PMLA) for alleged fraud and non-delivery of residential plots. It matters to citizens as it details a significant financial irregularity involving approximately Rs. 154.36 Crore in quantified proceeds of crime and affects the rights of plot purchasers in Gurugram.

Who it concerns: The document concerns Anil Bhalla (Chairman-cum-Managing Director) and Gautam Bhalla (Promoter) of M/s Vatika Limited, other accused directors including Gaurav Bhalla, purchaser entities (including Scaler Ventures), and the Directorate of Enforcement (ED).

What the ED says it did

• Anil Bhalla and Gautam Bhalla were arrested on 28.09.2026 under Section 19 of the PMLA, 2002.
• The investigation is based on FIRs by Delhi Police alleging fraudulent inducement and non-delivery of residential plots in Vatika India Next and Vatika India Next-2 projects.
• Between 2010 and 2012, seven purchaser entities paid approximately Rs. 260 Crore upfront for plots, but substantial portions valued at approximately Rs. 140.73 Crore remain undelivered.
• ED found that funds received from purchasers were transferred to other group companies and promoter-linked entities rather than being used for the specific projects.
• In a separate 2024 transaction, Scaler Ventures paid Rs. 473.18 Crore, but 14 of the remaining 150 plots were allegedly sold to third parties without consent.
• The total proceeds of crime currently quantified in the case are approximately Rs. 154.36 Crore.
• The Special Court (PMLA), Gurugram, remanded the accused to ED custody until 03.10.2026.

Also in the document

• ED recovered and froze a Mercedes-Benz GLC 300, gold and diamond jewellery weighing over 1.3 kg (valued at approx. Rs. 1.55 Crore), and bank accounts/FDRs worth approx. Rs. 3.04 Crore from the residence of one accused.
• The project land was held through approximately 22 group companies that had no employees or separate business activities, primarily used for corporate guarantees and managing the land bank.
• In the Vatika India Next-2 project, not a single plot out of approximately 1.10 lakh sq. yds. purchased for Rs. 90 Crore has been delivered after about 14 years.