The Enforcement Directorate (ED) on Thursday raided the residence and farmhouse of former Haryana minister Gopal Kanda in Gurugram as part of a money laundering investigation linked to an alleged real estate fraud worth Rs 248 crore.
The investigation has also revealed the involvement of various land-owning/group entities and key persons associated with the Vatika Group. The four projects under investigation involved the collection of approximately Rs 248.46 crore from 661 investors, without handing over possession or executing the promised sale deeds to date. Against Rs 260.30 crore received from the victim entities between 2010 and 2012, plots worth approximately Rs 120 crore were delivered. However, the remaining plots were not delivered even after 14 years, despite several attempts by the victim entities to obtain them, the probe agency said. In the same project, the accused also sold 14 plots to third parties without taking due consent from the victim company.
It is suspected that diverted funds were subsequently transferred to various companies linked to Gopal Kanda, officials said. The probe so far has revealed a common pattern in transactions relating to the projects “Vatika India Next” and “Vatika India Next-2”, wherein substantial amounts were received upfront from complainants towards the allotment and sale of residential plots. Still, a significant portion of the promised plots was not delivered even after multiple deadlines lapsed, the ED said.
