Bareilly:The Bareilly police have registered a case against a real estate developer, accused of cheating investors of hundreds of crores with the promise to double their investment in five years, according to Baradari police.
According to Abhishek Verma, the additional superintendent of police, director Narendra Pal Gangwar of Diamond Infral and Developer, the company which had duped people, is absconding with his family. Formed in 2011, the real estate firm had set up offices in Budaun, Shahjahanpur, Pilibhit, Hardoi and Farrukhabad also.
“We were told that our money was being invested in the real estate and it would get doubled in five years,” says Ghazala Parveen, a resident of Kutub Khana, who had invested a couple of lakhs in the scheme.
On Wednesday, dozens of duped investors held a demonstration outside the Baradari police station demanding the arrest of Gangwar and his cohorts. The company which has been registered with the Registrar of Companies at Kanpur, has also given names of Munish Kumar, Ranveer Singh and Sumit Kumar as three other directors but none of them is traceable, according to the police.
“We have sent police teams to other cities also in search of the director and office addresses given in the company’s documents but so far no arrests have been made,” said Verma.
{{/usCountry}}“We have sent police teams to other cities also in search of the director and office addresses given in the company’s documents but so far no arrests have been made,” said Verma.
{{/usCountry}}“I had seen a full-page advertisement in local newspapers about the housing schemes announced by the developer after which I also booked a plot in the scheme,” said Manoj Kashyap, a resident of Prem Nagar.
According to him several hundred people had similarly made investment in the company’s other ventures. People have also lodged a complaint against the developer on chief minister’s grievances redressal portal and are hoping that the police would expedite the investigation and nab the accused soon. “None of the projects advertised by the developer has been approved by the Bareilly Development Authority or registered with the UP Real Estate Regulatory Authority,” said BDA official when contacted.