'3C' builders arrested for diverting Rs 191 crore of homebuyers
NEW DELHI: The economic offences wing (EOW) of Delhi Police has arrested real estate builders identified as Nirmal Singh, Surpreet Singh Suri and Vidur Bhardwaj on charges of cheating and irregularities involved in Lotus 300 project in Noida sector 107. The trio are Directors of 3C company.
As per police reports, the accused are residents of Panchsheel Park, Sainik Farms and Friends Colony, respectively.
The EOW had started a probe in the case after an FIR was lodged against the accused builders by homebuyers in March.
The FIR accuses the builders of diverting around Rs 191 crore, that was received from buyers for the project, to other companies. "The FIR accounts to irregularities in the Lotus project, which has not been completed on time," the police confirmed.
The complainants have booked apartments in the residential Group Housing project in the name of Lotus 300 in six towers situated at sector 107, Noida. The complainants were assured that the project would be delivered within 39 months from the date of allotment letter.
The alleged company had warranted that the project shall have only 300 apartments but at a later date allegedly the builders plan changed from the Noida Authority with a malafide intention and had enhanced the number of apartment from 300 to 336 in the project which was seen as a violation of terms of Uttar Pradesh Apartment ( Promotion of Construction, ownership and maintenance Act, 2010 ).
"There are more than 50 victims in the FIR and alleged company has received amount to the tune of 100 crores from the victims. There are a total of 328 investors and the company has received Rs 636 crores out of which the amount to the tune of Rs 191 crores has been diverted by the company into its subsidiary companies," said a senior police officer.
Charges have been filed against the accused under sections 120b (criminal
conspiracy), 409 (criminal breach of trust) and 420 (cheating) of the Indian Penal code (IPC). The accused 3C Directors were produced before the court on Saturday and were remanded to three days police custody.