Gurugram, Nov 21 (PTI) The Gurugram zonal office of the Enforcement Directorate on Friday attached a property of a private firm worth around Rs 108 crore in a builder-investor case, officials said.

According to the officials, Vatika Limited is accused of defrauding investors and failing to complete projects. The company had promised investors returns, which were not fulfilled.

The 1.35-acre commercial plot was attached under the Prevention of Money Laundering Act (PMLA), they said.

The investigation is based on several FIRs registered with the Economic Offences Wing of the Delhi Police in 2021, in which the company and its promoters Anil Bhalla and Gautam Bhalla were accused of fraud, criminal conspiracy and taking money by misleading investors, the officials said.

Investigation revealed that around Rs 248 crore was invested by 659 investors in four projects, including Vatika Inext City Centre Towers D, E and F Gurugram, Vatika Mindscapes Tower-C Faridabad, Vatika Towers Tower-C Gurugram, Vatika High Street (V Lante) Gurugram, they said.

Many of these projects remain uncompleted, and no conveyance deeds have been issued to any investors. The ED has already attached assets worth Rs 68.59 crore in this case, they said.

The official added that the authority has also filed a prosecution complaint against the company, its promoters, and other group companies in the special PMLA court in Gurugram. PTI COR APL

Property attachment in builder-investor case under PMLA after alleged investor fraud and uncompleted real estate projects. Attachment of a 1.35-acre commercial plot under the Prevention of Money Laundering Act arose from FIRs alleging fraud, criminal conspiracy and misleading of investors in a builder-investor scheme; investigations report Rs 248 crore invested by 659 investors in multiple uncompleted projects, prior assets worth Rs 68.59 crore were attached, and a prosecution complaint has been filed in the special PMLA court against the company, its promoters and group entities.