A 58-year-old civil engineer was arrested for allegedly duping individuals on the pretext of investing in actual property, police mentioned on Wednesday.
Sanjay Chawla, a resident of Gurgaon, had cheated 53 individuals round Rs 9 crore, police mentioned.
According to a criticism, Adel Landmarks Ltd had in March 2011 made a pre-launch of a undertaking named ”Cosmo Court”, which was to come back up at Sector 86 in Gurgaon, an officer mentioned.
The agency and its representatives misled the traders that it has already acquired 17 acres of land and obtained the licenses to begin the undertaking, the officer mentioned.
They urged the complainants to begin making funds for bookings for the undertaking within the pre-launch stage, stating that it was very nominal at this stage and the charges can be double as soon as the undertaking is formally launched, police mentioned.
The firm began accepting reserving quantities from the traders a lot earlier than the mandatory approvals have been obtained from the authority. The undertaking was deserted and the quantity was not returned, the officer mentioned.
Investigation revealed that Chawla was one of many administrators and the authorised signatories within the firm. He was arrested on Monday and on launched on bail later as per the path of a courtroom, Additional Commissioner of Police (EOW) Raj Kumar Singh mentioned.
Chawla used to persuade a lot of the prospects to speculate their cash, police added.
Earlier, Sumit Bharana and Hem Singh Bharana, who have been promoters of this undertaking, had been arrested on this case, police mentioned.
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