New Delhi, August 27, 2026 (Yes Punjab News)
The Enforcement Directorate (ED) has seized and frozen assets worth nearly Rs 33 crore after searching seven residential and business premises linked to real estate firm Vatika Limited and its officials in the Delhi-NCR region, officials said on Thursday.
The searches were conducted on August 25 by the ED’s Gurugram Zonal Office under the Prevention of Money Laundering Act (PMLA) in connection with an alleged fraud of more than Rs 100 crore involving buyers of residential and office plots.
According to the ED, the investigation relates to allegations of fraudulent inducement, non-delivery of residential plots and other offences connected with Vatika Limited and its promoter-directors Anil Bhalla, Gautam Bhalla and Gaurav Bhalla, among others.
The agency had registered an Enforcement Case Information Report (ECIR) under the PMLA based on multiple FIRs filed by the Economic Offences Wing (EOW) of Delhi Police under various provisions of the IPC.
The ED said its investigation had prima facie identified a common pattern in transactions linked to the ‘Vatika India Next’ and ‘Vatika India Next-2’ projects. Substantial amounts were allegedly collected upfront from complainants for allotment and sale of residential plots, but a significant number of promised plots were not delivered despite repeated deadlines.
Between 2010 and 2012, victim entities paid Rs 260.30 crore, against which plots valued at approximately Rs 120 crore were delivered. The remaining plots, worth around Rs 140.30 crore, allegedly remained undelivered even after 14 years despite repeated efforts by the affected entities to secure them, the ED said.
The agency also found that various land-owning and group entities, along with key persons associated with the Vatika Group, were involved in the transactions. It alleged that 14 plots in the same project were clandestinely sold to third parties without obtaining the required consent from the victim company.
During the searches, ED officials recovered documents and digital devices containing information relating to properties held by Vatika’s promoters and directors, audited financial statements, Tally data, records concerning the movement and diversion of funds and details of money received from complainants.
The agency also seized or froze three high-end luxury vehicles, jewellery and bank accounts and securities with a combined value of approximately Rs 33 crore under the PMLA.
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