The Enforcement Directorate (ED) conducted raids on Thursday at the residence and farmhouse of former Haryana minister Gopal Kanda in Gurugram. This operation is part of an ongoing money laundering investigation related to an alleged real estate fraud amounting to Rs 248 crore.
It is suspected that diverted funds were subsequently transferred to various companies linked to Gopal Kanda, officials said.
Earlier reporting noted: ED conducts searches on premises linked to ex-Haryana minister Gopal Kanda The Enforcement Directorate (ED) on Thursday launched raids on Haryana Lokhit Party (HLP) leader and businessman Gopal Kanda in connection with a real-estate fraud, people familiar with the development said. 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.
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. Earlier reporting noted: The agency’s Gurugram office is investigating “a large-scale real estate fraud by Vatika Limited in which investors were induced to invest in commercial projects on assurances of timely possession, assured returns, lease rentals and execution of sale deeds,” according to an officer. Earlier reporting noted: Based on the financial trail and suspected diversion of home buyers’ funds, officials said, raids were conducted on Thursday at three premises in Gurugram, linked to Kanda, “his residence, farmhouse and office premises”.
