ED raids Vatika Limited locations, discovering over Rs 200 crore in assets amidst failure to deliver units and return promises.
The Enforcement Directorate (ED) raided 15 locations linked to Vatika Limited in Delhi and Gurugram on October 7, uncovering over Rs 200 crore in assets. The company is accused of failing to deliver commercial units to over 400 investors and not providing promised returns. The investigation revealed that Vatika secured loans exceeding Rs 5,000 crore, with Rs 1,200 crore waived by IndiaBulls, and identified about Rs 250 crore as proceeds of crime.
October 10, 2024
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