Directorate of Enforcement Press Release: Provisional Attachment of ₹108 Crore Asset in Vatika Limited Money Laundering Case.

Headnote:

The Enforcement Directorate (ED) has provisionally attached a commercial plot measuring 1.35 acres, valued at approximately ₹108 crore, in connection with a money laundering investigation involving M/s Vatika Limited. The action arises from allegations of large-scale investor fraud, where the company and its promoters induced buyers to invest in future projects with promises of assured returns but failed to deliver units, execute conveyance deeds, or complete projects. With this attachment, the total value of attached properties in the case has reached approximately ₹176 crore. ED has also filed a Prosecution Complaint against Vatika Limited, its promoters, and associated companies before the Special PMLA Court, Gurugram.

Background:

ED initiated its investigation based on multiple FIRs filed in 2021 by the Delhi Police Economic Offence Wing against Vatika Limited and its promoters, Anil Bhalla and Gautam Bhalla, under Sections 120B and 420 of the IPC. The FIRs alleged criminal conspiracy and cheating of investors through assurances of high returns and future rentals on commercial units. ED found that the company lured investors with promises of assured returns until project completion, but later stopped payments and neither delivered completed units nor executed conveyance deeds. The company also violated regulatory requirements, including non-renewal of DTCP licenses and failure to complete projects on time.

Investigation Findings:

ED revealed that 659 investors collectively invested approximately ₹248 crore across four major projects:

(i) Vatika Inxt City Centre Tower D, E & F (Gurugram);

(ii) Vatika Mindscapes Tower-C (Faridabad);

(iii) Vatika Towers Tower-C (Gurugram);

(iv) Vatika High Street (part of V’Lante), Gurugram.

Despite passage of years, the projects remain incomplete or deferred, with no conveyance deeds executed. ED had earlier attached assets worth ₹68.59 crore, confirmed by the Adjudicating Authority, and the fresh attachment raises the total to around ₹176 crore. A Prosecution Complaint has been filed against the company, its promoters, and associated entities before the Special PMLA Court, Gurugram, on 21.05.2025. Further investigation is ongoing.

Legal Provisions Discussed:

• Sections 120B & 420, Indian Penal Code, 1860 – Criminal Conspiracy; Cheating and dishonestly inducing delivery of property.

• Prevention of Money Laundering Act, 2002 – Attachment of proceeds of crime; prosecution for money laundering.

Date: 21 November 2025

Authority: Directorate of Enforcement (ED), Gurugram Zonal Office

Law Invoked: Prevention of Money Laundering Act (PMLA), 2002