New Delhi2 hours ago
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On October 7, ED conducted raids in the cases of Vatika Limited and others under PMLA. (file photo)
ED raided 15 places in Delhi and Gurugram in the money laundering case and identified assets worth more than Rs 200 crore. ED said on Thursday that on October 7, a raid was conducted in the cases of Vatika Limited and others under the Prevention of Money Laundering Act (PMLA).
The matter is related to several commercial projects in which more than 400 investors did not get the returns fixed by the Builder Buyer Agent (BBA). Apart from this, the company also did not hand over commercial units (houses, shops etc.) to buyers and investors.
ED said that many objectionable records related to buyers, documents related to loans of companies from banks etc., pen drives, hard drives, laptops and mobile phones have been seized in the raid.
The case was registered three years ago In 2021, the Economic Offenses Wing of Delhi and Haryana Police had initiated an investigation against Vatika Limited and its promoters Anil Bhalla, Gautam Bhalla and others for criminal conspiracy, cheating and dishonest delivery of assets.
ED said that investigation revealed that the company made promises like assured high returns and giving lease and rent returns on completion of the project to attract investors in its future project. However, later the company stopped giving returns.
Not only this, the company also did not hand over the properties related to many projects in Faridabad and Gurugram to the buyers. Apart from this, Vatika Group companies had taken loans of more than Rs 5 thousand crores. Out of this, about Rs 1200 crore was waived by Indiabulls Company in the agreement.
The company also did not complete things like renewing the license from DTCP and completing the project within the time limit. The agency said that the investigation so far shows that about Rs 250 crore was earned from this fraud.
Three days ago, there was a raid on the house of APP MP in Punjab.
The house of financier Hemant Sood, a close aide of former Punjab cabinet minister Bharat Bhushan Ashu, and AAP’s Rajya Sabha MP Sanjeev Arora at Chandigarh Road Hampton Homes was also raided by ED on October 7. It was told that ED has found some foreign transactions in which his name is mentioned.
Apart from this, the government had given the site of Hampton Homes to build an industry, but a colony was made here. ED is investigating in this matter also. It is discussed that this colony was built by Hemant Sood. He is a property businessman.
MP said- I will cooperate in the investigation Rajya Sabha MP Sanjeev Arora has given information in this matter by posting on social media. He wrote on X, ‘I am a respectable citizen. I do not know anything about why the search is being conducted, but I assure that I will fully cooperate with the agencies in the investigation. I will also answer all his questions.
Manish Sisodia wrote, Modi ji left his parrots and mynas free At the same time, Manish Sisodia, who was the Deputy CM in Delhi Government, also posted and held the Central Government responsible for the raid. Manish wrote on X, ‘Today again Modi ji has let his parrot-mynah free. Since this morning, ED sleuths are raiding the house of Aam Aadmi Party Rajya Sabha MP Sanjeev Arora. In the last two years, they raided Arvind Kejriwal’s house, raided my house, raided Sanjay Singh’s house, raided Satyendar Jain’s house… nothing was found anywhere.
Modi ji’s agencies are engaged with full dedication in creating fake cases one after the other. These people will go to any extent to break the Aam Aadmi Party, but no matter how much they try, the Aam Aadmi Party people will neither stop, nor sell out, nor get scared. Also read this news related to ED raid… ED raid in Ranchi and Dhanbad: Raid on the premises of CO, lawyer and businessman.
ED had conducted raids in Ranchi and Dhanbad on October 8. The team raided the house of DTO CP Diwakar Dwivedi in Dev Bihar Apartment in Jhadudih, Dhanbad in the morning. There is information that a huge amount of cash has been recovered from the DTO’s house. Read the full news…
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