The Enforcement Directorate (ED) has arrested Anil Bhalla, Chairman-cum-Managing Director of Vatika Limited, and company promoter Gautam Bhalla in connection with a money laundering case involving the alleged non-delivery of residential plots and diversion of homebuyer funds. The arrests were carried out on 28 September 2026 by the ED's Gurugram Zonal Office under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002.

Background and Charges

The ED had registered an Enforcement Case Information Report (ECIR) against Vatika Limited, its promoter-directors — Anil Bhalla, Gautam Bhalla, Gaurav Bhalla — and others. The case stems from multiple FIRs registered by the Economic Offences Wing (EOW) of the Delhi Police under Sections 420, 406, and 120-B of the Indian Penal Code (IPC), 1860, relating to alleged fraudulent inducement, non-delivery of residential plots, and related offences.

What the ED Investigation Found

According to the agency, between 2010 and 2012, seven purchaser entities paid approximately ₹260 crore to Vatika Limited as full sale consideration for residential plots across three projects — 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 ED alleged that the project layouts were subsequently revised, changing the numbering and locations of originally allotted plots. The project land was allegedly allotted and sold to other buyers. In Vatika India Next-2, none of the plots covering approximately 1.10 lakh square yards — for which around ₹90 crore had been paid — had been delivered even after nearly 14 years. Delivery in Vatika India Next was only partial. Plots worth approximately ₹140.73 crore remain undelivered, according to the agency.

A separate transaction in 2024 involved Scaler Ventures, which allegedly paid ₹473.18 crore under an Agreement to Sell and Buy-Back Agreement. Of the 165 plots, only 15 were subsequently bought back, while 14 of the remaining 150 plots were allegedly sold to third parties for around ₹13.62 crore without Scaler Ventures' knowledge or consent.

Role of the Accused and Fund Diversion

The ED's investigation found that Anil Bhalla supervised key decisions related to the transactions under scrutiny, while Gautam Bhalla executed important agreements, held directorships in land-owning entities, and exercised control over their operations. The agency said major decisions were taken jointly by both accused.

Notably, the project land was held through approximately 22 group companies that allegedly had no employees or independent business activities. These entities were primarily used for providing corporate guarantees and managing the group's land bank, including mortgaging properties to financial institutions. An analysis of Vatika Limited's bank accounts allegedly revealed that funds received from purchasers were diverted to other group companies and promoter-linked entities unrelated to the projects for which they were collected.

Searches, Seizures, and Proceeds of Crime

Prior to the arrests, the agency conducted searches at seven premises under Section 17 of the PMLA. From the residential premises of one of the accused, officials recovered a Mercedes-Benz GLC 300, gold and diamond jewellery weighing over 1.3 kg and valued at approximately ₹1.55 crore. Bank accounts and fixed deposits worth around ₹3.04 crore were also frozen. The total proceeds of crime quantified so far in the case amount to approximately ₹154.36 crore, according to the ED.

Court Remand and Next Steps

Following their arrest, the accused were produced before the Special Court (PMLA) in Gurugram on 29 September 2026. The court remanded both to ED custody until 3 October 2026. Further investigation in the case is ongoing, and additional recoveries or arrests cannot be ruled out as the agency continues to trace and attach the alleged proceeds of crime.