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Ponty Chadha’s son held for ‘cheating homebuyers’

Manpreet, the vice-chairman of the Wave group, was arrested by sleuths of Delhi police’s economic offences wing (EOW) when he was about to board a flight to Phuket, Thailand.

india Updated: Jun 14, 2019 02:39 IST
HT Correspondent
HT Correspondent
Hindustan Times, New Delhi
Ponty chadha,Manpreet Singh Chadha,Wave group
Manpreet Chadha (face covered) with officials of the economic offences wing before being produced in a court.(HT photo)

Manpreet Singh Chadha, the son of murdered liquor baron Ponty Chadha, was arrested from the Delhi airport on Wednesday for allegedly cheating 29 people to the tune of Rs 4.5 crore by promising them flats at a township project in Ghaziabad and failing to deliver them.

Manpreet, the vice-chairman of the Wave group, was arrested by sleuths of Delhi police’s economic offences wing (EOW) when he was about to board a flight to Phuket, Thailand.

He was sent to judicial custody after he was denied bail by a Saket court. Additional commissioner of police (EOW) Suvashish Choudhary said Chadha, promoter-director of Uppal Chadha Hi-Tech Developers Pvt Ltd, was arrested in a case registered against him in January last year.

“The complainants had alleged that the company launched a project in 2006 at NH 24 in Ghaziabad,” he said.

In 2003, the Ghaziabad Development Authority formulated a policy for the development of a Hi-Tech city thereby providing a platform to the real estate developers to develop smart townships with modern facilities,” Choudhary said. He said, in 2005 the agents and brokers of Uppal Chadha Hi-Tech Developers Pvt Ltd started approaching the public for booking plots in the proposed township projects. “The alleged company allured buyers by showing them layout plan for the proposed townships spread over 1,500 acres. The possession of plots was to be given in eight months from the date of allotment letters. All the 29 victims who have approached the police so far had booked plots between 2005 and 2006 and paid about R 4.5 crores,” Choudhary said .

First Published: Jun 14, 2019 02:39 IST