In a significant arrest, the Gurugram Police apprehended a man for allegedly selling a single floor of a commercial building to over 25 people. The accused, identified as Dhruv Dutt Sharma, director of 32nd Avenue, reportedly defrauded people in a large-scale property scam worth Rs 500 crore.
Followed by a series of complaints against the real estate entrepreneur related to large-scale cheating, fund diversion and criminal conspiracy, produced before a court on Friday and sent on six days of police remand as the Economic Offences Wing began a detailed investigation.
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According to a complaint filed in January by a representative of Tram Ventures Private Limited against Apra Motels, now known as 32 Milestone Vistas Private Limited, 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.
According to an NDTV report, the deal was then finalised at Rs 2.5 crore. Despite the payment on September 21, 2021, no conveyance deed was executed in favour of the buyer.
“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," PTI quoted Gurugram Police.
As per the officials, after selling the floor to multiple individuals, Sharma later took the same floor on a 30-year lease from all 25 buyers through another firm, Growth Hospitality Private Limited. Over five FIR has been filed against the accused, with each investor to be cheated of over 1 to 2.5 crore.
The EOW has intensified its investigation against the CEO of the 32nd Milestone Complex by freezing bank accounts, attaching assets, conducting forensic audits, suspending passports and issuing look-out circulars to prevent the accused from fleeing the country.