GURUGRAM, SEPT 30: Anil Bhalla, Chairman of Vatika Group, and promoter Gautam Bhalla have been remanded to Enforcement Directorate custody till October 3 following their arrest in a money laundering investigation involving residential real estate projects.
According to official disclosures, financial investigations revealed that funds collected upfront from prospective buyers were systematically diverted away from designated project accounts to promoter-linked entities. Enforcement Directorate officials maintained that a network of approximately 22 shell companies with no operational business activities was utilized to hold project land and manage corporate guarantees.
The agency declared that in a subsequent 2024 transaction involving Scaler Ventures, 14 residential plots were resold to third parties for ₹13.62 crore without investor consent. Searches conducted by enforcement teams yielded luxury vehicles, high-value diamond and gold jewelry weighing over 1.3 kg, alongside frozen bank deposits totaling over ₹3 crore.
Enforcement Directorate representatives affirmed that both executives exercised direct operational control over the decision-making process and entity management, with further investigations ongoing to map additional financial flows.
