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Investigate investment scam: court orders eow

india Updated: Aug 01, 2011 01:50 IST
Sumit Saxena
Sumit Saxena
Hindustan Times
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The Delhi Police are questioning the owner of Vipul Limited - a listed real estate company - for allegedly perpetrating an investment scam and defrauding scores of unsuspecting customers.

Additional Chief Metropolitan Magistrate Rakesh Pandit has ordered that the Economic Offences Wing (EoW) conduct a detailed investigation into the scam by Punit Beriwala, managing director of Vipul Ltd.

"We have been cheated of Rs 50 Lakh. The EoW initially refused to register the FIR. We went to court and filed a criminal complaint, but the police are delaying the investigation," said Nishu Gupta, whose mother-in-law Damayanti Devi invested her life's savings to purchase a residential flat promised by Beriwala in 2006.

Similarly, corporate lawyer Rohit Kochhar alleged that Beriwala defrauded him of Rs 40 Lakh for an office premises.

He further alleged that documents were forged at the behest of Beriwala to defraud and cheat Kochhar.