The Enforcement Directorate (ED) has arrested the promoter and the chairman of Gurugram-based realty firm Vatika Group in connection with a money laundering probe linked to alleged fraud with homebuyers, the agency said on Wednesday.
ED said in a statement that its probe stems from a Delhi Police first information report (FIR) against the Vatika Group and the promoters, which alleged fraudulent inducement, non-delivery of residential plots and related offences. Anil Bhalla, chairman-cum-managing director, and Gautam Bhalla, promoter, were taken into custody under the prevention of money laundering act or PMLA, on Monday and were produced before a special court in the city.
Anil Bhalla personally supervised the key decisions in the transactions under investigation and Gautam Bhalla was a key promoter of the group who executed important agreements, held directorships in, and exercised control over, its land-owning entities, and continued to manage its operations, ED said.
