Delhi Police’s Economic Offences Wing (EOW) has arrested the director of a real estate firm, Primrose Infratech Pvt Ltd, in an alleged case of cheating worth over Rs 100 crore.
Joint commissioner (EOW) OP Mishra said that the accused, Brij Bhushan Gupta (52), was wanted for allegedly duping home buyers in a project in Greater Noida. More than 70 victims have approached EOW till date.
“The accused diverted the money collected from the buyers, which was meant for construction, towards creating personal assets, leading a life of luxury and extending benefits in the form of loans and advances to related entities,” Mishra said.
“Around two dozen homebuyers had filed complaints alleging that they were allured to invest in the residential township project named ‘Ryne’ proposed at Plot No. GH-06A, Sector Chi-V, Greater Noida by Primrose Infratech Pvt Ltd,” the joint CP added.
The buyers alleged that in July 2012, without having the requisite approvals in place, the bookings of the flats were started. The accused promised to hand over the possession of developed flats within 36 months, they said.
In 2018, an FIR was registered and investigation initiated. The accused, however, absconded, police claimed.
“The probe revealed that bookings were accepted without having requisite approvals. Out of total proposed 754 units, 438 units were sold and about Rs 103 crore was collected. The construction work was delayed much beyond the promised time period and it was finally abandoned midway,” said Mishra. Gupta was arrested from Panchkula, Haryana on November 8.
