The Gurugram Police on Friday arrested a man accused of orchestrating a large-scale property fraud worth around Rs 500 crore, after allegedly selling a single floor of a commercial building to more than 25 people, officials told PTI Videos.
The accused has been identified as Dhruv Dutt Sharma, director of 32nd Avenue He was produced before a city court and remanded to six days' police custody, they added.
The case stems from a complaint filed in January by a representative of Tram Ventures Private Limited. The complaint was lodged against Apra Motels, now known as 32 Milestone Vistas Private Limited.
According to the complaint, the directors and shareholders of the accused firm approached Tram Ventures in 2021 and offered to sell Unit No. 24 — a 3,000 sq ft space on the first floor of the 32nd Milestone Complex. The deal was reportedly finalised for Rs 2.5 crore, with payment made on 21 September 2021.
However, the complainant alleged that despite the payment and an agreement to sell being signed, the conveyance deed was never executed in the buyer's favour. The complainant also claimed they were repeatedly made to pursue the matter, and that a legal notice issued on 11 October 2023 went unanswered.
Police said the agreement required the accused company to continue paying rent for the floor, even after it had been sold. During follow-up checks, Tram Ventures allegedly discovered that between 2022 and 2023, conveyance deeds for the same floor had been executed in the names of 25 other individuals.
Based on the complaint, an FIR was registered at the Civil Lines police station. The Economic Offences Wing later arrested Sharma, a resident of DLF Camellias in Civil Lines, on Friday, police said.
"During preliminary investigation, Sharma revealed that he, along with other associates, had done a deal with the complainant company in the year 2021 for the first floor of 32 Milestone Building for Rs 2.5 crore," the spokesperson of Gurugram police told the news agency.
Police further alleged that after selling the floor to multiple individuals, the accused then took the same floor on lease for 30 years from all 25 buyers in the name of another firm, Growth Hospitality Private Limited.
The investigation is still on.
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