The Enforcement Directorate (ED) raided 15 places in New Delhi and Gurugram in a money laundering case against Vatika Limited and others. According to the Enforcement Directorate, this action has been taken under the Prevention of Money Laundering Act (PMLA). According to the ED, many investors invested money in Vatika Limited, but they did not get any benefit.
Investors were promised high profits
The company neither gave assured returns to the investors nor handed over their business units. Investigation revealed that Vatika Limited induced investors to invest money by promising them high profits, but later the company stopped the payment.
FIR was registered against the promoters of Vatika Limited
Let us tell you that in 2021, Delhi and Haryana Police had registered several FIRs against the promoters of Vatika Limited on charges of criminal conspiracy and fraud.
Vatika Group had taken a loan of more than five thousand crores
At the same time, the investigation also revealed that Vatika Group had taken a loan of more than 5000 crores, out of which about 1200 crores rupees were waived off in the agreement with Indiabulls.
250 crores identified as money earned from crime
The company did not follow the necessary procedure to complete its project on time. In the investigation so far, about 250 crores rupees have been identified as money earned from crime.
Properties worth more than Rs 200 crore identified
It was told that during the raid, ED has identified properties worth more than Rs 200 crore which are related to this case. The Enforcement Directorate team is currently investigating. The reason behind the action will be known only after the investigation is completed.
Some important points of ED action-
– ED team raided 15 locations of Vatika Limited
– ED took action in money laundering case
– During the raid, properties worth more than Rs 200 crore were identified
– In 2021, Delhi and Haryana Police had registered an FIR against the promoters of Vatika Limited on charges of fraud
– ED team is still taking action. Further action can be taken only after the investigation is completed
