Economy
ED Arrests Vatika Group CMD and Promoter in PMLA Money-Laundering Case
The Hindu1h
THE BRIEF
1
The Enforcement Directorate arrested Vatika Limited chairman-cum-managing director Anil Bhalla and promoter Gautam Bhalla in a money-laundering case linked to non-delivery of residential plots.
2
Between 2010 and 2012, seven purchaser entities paid ₹260 crore upfront for residential plots in Gurugram projects including Vatika India Next and Vatika India Next-2.
3
The agency alleged that plots worth ₹140.73 crore remained undelivered after nearly 14 years, and funds were diverted to group companies instead of project execution.