FIR Filed Against Managing Directors Of Gurgaon Based Reputed Developer Vatika Group

February 28, 2020

Two separate FIRs have been filed against Gurugram-based reputed real estate developer Vatika Limited and its managing directors for alleged fraud.

An FIR has been filed at the Sector 10-A police station for Rs 133 crore rupees fraud, and another at the Kherki Daula police station for Rs 36 lakh rupees cheating. Both FIRs were filed on the advice of the police department’s economic crimes unit (EOW).

Assotech, a Noida-based builder company, claimed in the Rs 133 crore fraud case that in 2012, the Vatika builder agreed to set up a group housing society on the Noida firm’s over 10 acres in Gurugram’s Sector 88 area.

The agreement was worth Rs 144 crore, of which the Noida firm gave the builder Rs 133 crore, but Vatika failed to follow through. M/s Assotech Limited of Noida, according to the complaint, filed a petition in a Noida court.

The court ordered that a FIR be filed, which was completed on September 6, 2017 at Noida’s Sector 24 police station. The file was sent to Gurugram police because the land was in Sector 88, and the investigation was assigned to the EOW in October 2022.

In Rajeev Srivastava’s complaint, M/s Vatika Limited and its directors Anil Bhalla, Gautam Bhalla, Brij Kishore Sing, Vijender Kumar, and CFO Manish Agarwal are accused of cheating.

“In 2012, the directors of reputed Vatika Limited approached the complainant company, claiming to be the absolute owners of the 10.043-acre plot of land and having full rights to develop a group housing society.” An agreement was reached for Rs 144 crore, and the agreement was signed on April 22, 2013, after paying approximately Rs 30 crore.

In May 2013, the complainant’s construction activities on the land were halted and work on the installation of a 400KV D/C HVPNL high-tension transmission line from 400 kV substation Daulatabad to 400 kV S/S Sector-72 Gurugram began, passing through the construction site/group housing in question.

As a result, the company was forced to suspend operations at the site. The company notified the accused, who admitted their mistake and assured the complainant that the HVPNL line would be rerouted within 180 days.

They demanded more money, and the complainant company paid Vatika Limited a total of Rs 133 crore. The plan to remove the high-tension line from here was announced in the gazette in 2008, but the accused never informed the complainant about it and later threatened the complainant.