Vatika promoters Anil Bhalla and Gautam Bhalla were arrested by the Enforcement Directorate in a case involving allegations that buyers paid about Rs 260 crore upfront for residential plots in the group’s Gurgaon projects but were not handed over substantial portions of the promised land, the agency said on Wednesday in a post on X.
The two were arrested on September 28 under the Prevention of Money Laundering Act and produced before a special PMLA court the following day. Gautam Bhalla was sent to ED custody for four days, till October 3, as the agency investigates alleged diversion of funds and transactions linked to Vatika India Next and Next-2, according to the ED.
The case stems from five FIRs filed by the Delhi Police Economic Offences Wing against Vatika Ltd, the Bhallas and others under sections 420, 406 and 120B of the IPC, relating to cheating, criminal breach of trust and criminal conspiracy, the agency said.
