ED conducts searches on premises linked to ex-Haryana minister Gopal Kanda

The four projects under investigation involved collection of approximately ₹248.46 crore from 661 investors, without handing over possession or executing the promised sale deeds till date

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.

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.

“The four projects under investigation involved collection of approximately ₹248.46 crore from 661 investors, without handing over possession or executing the promised sale deeds till date,” he added.

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”.