New Delhi, The Enforcement Directorate on Wednesday said it has arrested two promoters of Gurugram-based realty company Vatika Group in a money laundering case linked to alleged fraud with homebuyers.
Anil Bhalla, Chairman-cum-Managing Director, and Gautam Bhalla, promoter of Vatika Limited, were taken into custody on September 28. They were produced before a special Prevention of Money Laundering Act court in Gurugram on Tuesday which sent them to ED custody till October 3, the central agency said in a statement.
The money laundering investigation stems from a Delhi Police Economic Offences Wing FIR against the Vatika Group and the said promoters which alleged fraudulent inducement, non-delivery of residential plots and related offences.
The ED said 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.
