ED Cracks Down on Vatika Limited: Rs 68 Crore Assets Attached Amid Investor Fraud Allegations

The Enforcement Directorate has attached assets worth over Rs 68 crore belonging to real estate group Vatika Limited in a money laundering probe. The investigation is linked to investor fraud, following a 2021 FIR by the Economic Offences Wing, accusing the company of criminal conspiracy and cheating.

The Enforcement Directorate announced on Friday the attachment of assets valued at more than Rs 68 crore from Gurugram's Vatika Limited. This move is part of an ongoing money laundering investigation related to the company's alleged investor fraud.

Originating from a 2021 FIR filed by the Economic Offences Wing of the Delhi Police, the case charges Vatika Limited, its promoters Anil and Gautam Bhalla, among others, with offenses including criminal conspiracy and cheating.

A provisional order under the Prevention of Money Laundering Act has been issued to attach several properties, indicating that over 600 investors were swindled in various projects, with the company failing to deliver promised returns or complete construction.

(With inputs from agencies.)