Sanjay Gupta, one of the three directors of C&C Towers Ltd, has been arrested for allegedly cheating buyers of shops and office spaces at Mohali Junction, the bus terminal and commercial complex in Phase 6.
Arrested on Thursday, Gupta was produced in a Mohali court on Friday and sent to two-day police remand. He has been booked under Sections 406 (criminal breach of trust), 420 (cheating and dishonestly inducing delivery of property) and 120B (criminal conspiracy) of the Indian Penal Code at the Phase 1 police station. If found guilty, he faces imprisonment up to seven years.
The dream project of the previous Akali government, Mohali Junction was launched in 2009, with a deadline of December 2011. It was touted to be the first Busopolis project — a bus terminal with a commercial centre and hotel — in the region. However, nine years later, only the ISBT has become operational, leaving investors in the retail shops and office spaces disgruntled.
In their complaint to police, some of the investors alleged that they had been cheated of their money deposited with the company. The complainants had booked shops and offices in B and C towers of the project, and claimed to have paid 35% to 90% of the total cost of the retail space. As the developer failed to deliver the possession even after years, the complainants had sought refund of the money deposited with 18% interest. But, despite repeated assurances from the company, they had not received anything.
{{/usCountry}}In their complaint to police, some of the investors alleged that they had been cheated of their money deposited with the company. The complainants had booked shops and offices in B and C towers of the project, and claimed to have paid 35% to 90% of the total cost of the retail space. As the developer failed to deliver the possession even after years, the complainants had sought refund of the money deposited with 18% interest. But, despite repeated assurances from the company, they had not received anything.
{{/usCountry}}In August last year, six people, including firm chairman Gurjeet Singh Johar, were booked. The company’s activity areas include turnkey responsibility for roads, highways and urban infrastructure (water, sanitation and sewerage, power/telecom transmission, towers and commercial buildings) in India and abroad.