Story perspectives

ED raids Haryana minister Gopal Kanda over INR248.46-cr fraud

By Drooid · Sep 17, 2026, 10:50 AM UTC · How we work

Summary

Story summary

Enforcement Directorate (ED) raided Haryana minister Gopal Kanda’s home, farmhouse and office in Gurugram on September 17, 2026.
The raids target a money-laundering probe into Vatika Limited’s real-estate fraud.
Investigators say four Vatika projects collected about INR248.46 crore from 661 investors.
ED traced portions of the diverted money to companies linked to Kanda.
Earlier, ED seized three luxury vehicles, jewellery and froze assets worth Rs 33 crore from Vatika.

History

Historical Context

In April 1992 journalist Sucheta Dalal exposed Harshad Mehta’s manipulation, causing the Indian stock market to collapse and erasing roughly 40% of market value (about INR1,000 billion). The crisis prompted SEBI reforms and the 2002 amendment to the SEBI Act to tighten oversight. The 2026 Enforcement Directorate raid on Haryana minister Gopal Kanda shows the legacy of those regulatory changes.

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Story summary

Enforcement Directorate (ED) raided Haryana minister Gopal Kanda’s home, farmhouse and office in Gurugram on September 17, 2026.
The raids target a money-laundering probe into Vatika Limited’s real-estate fraud.
Investigators say four Vatika projects collected about INR248.46 crore from 661 investors.
ED traced portions of the diverted money to companies linked to Kanda.
Earlier, ED seized three luxury vehicles, jewellery and froze assets worth Rs 33 crore from Vatika.

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