The Zirakpur police on Sunday registered third FIR against the Gupta Builders and Promoters (GBP) Group for failing to give possession of properties to the buyers.
Around two months back, GBP Group management had left the country without completing various real estate projects in Mohali district and leaving 2,500 investors in the lurch, following which two cases were registered against them.
The Mohali police have already issued lookout circulars against the group’s three directors: Satish Gupta, Raman Gupta and Pardeep Gupta.
Around 70 allottees, who had invested money in the group’s Athens (residential and commercial) and Aeroze (residential) projects – both on the Airport Road – filed a police complaint after they were not given possession and the work was stopped.
One of the complainants, Ujjwal Sethi of Sector 45, Chandigarh, said: “We have taken loans from the bank and we are paying instalments as well rent for our house. The builders promised us possession four years back. Now, even the work has been stopped.”
“A case under Sections 406 (criminal breach of trust), 420 (cheating) and 120B (criminal conspiracy) has been registered against the GBP Group management and we have initiated proceedings to arrest them,” said Onkar Singh Brar, station house officer, Zirakpur.
The realty firm has several ongoing projects in Mohali. Among them, Camelia, offering both residential and commercial units, in Kharar, and GBP Centrum (commercial) in Zirakpur have been under construction since 2016. At another residential colony in New Chandigarh, where plots have been sold, construction has not even begun.
{{/usCountry}}The realty firm has several ongoing projects in Mohali. Among them, Camelia, offering both residential and commercial units, in Kharar, and GBP Centrum (commercial) in Zirakpur have been under construction since 2016. At another residential colony in New Chandigarh, where plots have been sold, construction has not even begun.
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