Delhi: Top builder held for 'duping' investors
A director of Vigneshwara Developers Private Limited was arrested by the Delhi Police’s Economic Offences Wing on Friday for allegedly duping investors of Rs 160 crore.delhi Updated: Nov 01, 2014 08:39 IST
A director of Vigneshwara Developers Private Limited was arrested by the Delhi Police’s Economic Offences Wing on Friday for allegedly duping investors of Rs 160 crore.
Sunil Dahiya, according to the EOW, was wanted for failing to deliver on two residential projects in Gurgaon for which his company accepted immovable property as payment for proposed housing units.
He had been trying to evade arrest for a while and was reportedly trying to flee to Chandigarh when the police, acting on a tip-off, caught up with him in south Delhi’s Sunder Nagar.
Police sources said Dahiya had been staying at various five-star hotels in the city to avoid being tracked.
Three cases had been registered in connection with the two projects launched by Vigneshwara Developers Private Limited —which has a presence across north India — and its group companies in Gurgaon’s Manesar and Sector 74.
“Approximately 700 investors invested in these projects. We received complaints from nearly 350 of them alleging they have been cheated to the tune of `160 crore by the directors of the company,” DCP (EOW) Mangesh Kashyap said.
“The company’s directors (Sunil Dahiya, Sanjay Dahiya and Daryao Singh) made unrealistic promises to the public regarding the projects… and lured them to invest. However, the company did not have all the approvals required for the projects,” he added.
The DCP said eight mobile phones, an iPod, laptop, various credit and debit cards and other documents were recovered from Dahiya. His BMW — bought in 2013 and registered in the name of Vigneshwara Developers — was also seized.
Attempts by HT to contact Dahiya’s lawyer failed.