Delhi Police EOW arrested a civil engineer for allegedly cheating for over Rs. Nine crore in a realty project
New Delhi, April 7
The Delhi Police EOW arrested a civil engineer for allegedly cheating for over Rs. Nine crore in a realty project at Gurugram.
The accused was identified as Sanjay Chawla from Essel Tower at MG Road im Gurgaon. Chawla is a civil engineer and he with association of many builders became project head as well as director in this alleged company. He used to interact with the prospective customers and convince them to invest in the alleged project.
EOW had received a complaint of Puneet Bhatia and others investors against the company M/s Adel Landmarks Ltd. (formerly known as Era Landmarks Ltd.) having its registered office at B-39, Ground Floor, New Friends Colony (West), New Delhi regarding a fraud of Rs. nine crores.
As per the complaint, in March 2011, the alleged company M/s Adel Landmarks Ltd. (formerly known as Era Landmarks Ltd.) had made a pre-launch of a project by the name of Cosmo Court which was to come up at Sector-86, Gurgaon. The company and its representatives misled the investors that the said company has already acquired 17 acres of land and obtained the licenses to start the project. The alleged company and its agents induced the complainants to start making payments for bookings for the project in the pre-launch stage stating that it is very nominal at this stage and once the project is officially launched, the rates would double up.
The officials stated that the company started accepting booking amounts from the investors much before the necessary approvals were obtained from the authority. Later, the company transferred 12 acres of land, on which the said project was to come up, to Ansal Housing through its 100 % subsidiary company i.e. Resolve Estates Pvt. Ltd. Subsequently, the alleged project was abandoned. Neither the amount received from the general public was returned nor the project completed.
During investigation the EOW examined the documents. The investigation has revealed that accused Sanjay Chawla is one of the directors and authorized signatory in the alleged company i.e. Adel landmarks Ltd. Previously during investigation two accused, Sumit Bharana and Hem Singh Bharana who were promoters of this project had been arrested in this case. The EOW had filed a charge sheet and a supplementary charge sheet too in this case.
Explaining their modus operandi, the EOW said that the accused used to reach out to prospective customers and presented a rosy picture thereby inviting investments in this project. He used to convince most of the customer to part with their hard earned money with the assurance that the same would be doubled in a little time span.
The officials added that Sanjay Chawla has been arrested and released on bail as per the direction of the court.
