Gurugram, Gurugram police on Friday arrested a man who allegedly defrauded approximately ₹500 crore, after selling a floor of a building to over 25 people, police said.
The accused, Dhruv Dutt Sharma, director of 32nd Milestone , was arrested, police said.
The accused was produced in a city court and taken on six days of police remand. Investigations so far have revealed that the accused defrauded various people of approximately ₹500 crore in this manner, they added.
In January, a complaint was filed by a representative of Tram Ventures Private Limited against the Apra Motels, which is now known as 32 Milestone Vistas Private Limited, police said.
In 2021, the accused firm’s directors and shareholders contacted the complainant company and offered Unit No. 24 on the first floor of his 32nd Milestone Complex for sale, he said.
Reportedly, the deal was done at ₹2.5 crore, they said, adding that the amount was paid on September 21, 2021.
After this, 32 Vistas Private Limited entered into an agreement to sell the property with the complainant’s company, but did not receive the conveyance deed executed after the payment, he added.
The complainant alleged that they were made to run around repeatedly.
They issued a notice on October 11, 2023, but the accused company did not respond.
According to the agreement, the accused company continued to pay rent for the floor sold to their company.
On investigation, the company found that between the year 2022 and the year 2023, the conveyance deed of that floor had allegedly been made in the name of 25 other persons.
Acting on the complaint, police registered an FIR at the Civil Lines police station.
During the investigation, the Economic Offences Wing team arrested the accused Dhruv Dutt Sharma, a resident of DLF Camellias in Civil Lines, on Friday, police said.
“During preliminary investigation, Sharma revealed that he, along with other associates, had done a deal with the complainant company in the year 2021 for the first floor of 32 Milestone Building for ₹2.5 crore,” the spokesperson of Gurugram police said.
The conveyance deed for the floor was not executed in his name, and the floor was sold to 25 other individuals, he said.
Then the crime was committed by taking this floor on lease from all 25 persons for 30 years in the name of their other firm, Growth Hospitality Private Limited, the spokesperson said.
The interrogation of the accused is underway, he added.
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