Directors of realty firm booked for fraud

New Delhi: The Economic Offences Wing (EOW) of Delhi Police has registered a case of cheating against the private real estate company and its directors for duping buyers. Police said that complainant's flats were sold to other persons.

Additional Commissioner of Police (EOW) Suvashis Choudhary said that they have registered a case in this regard and investigation is going on.

According to police, the case was registered on the complaint of Shyam Kishan Saraf.

"Complainant, an attorney holder of his mother Kaushilya Saraf and his sister-in-law Madhulika Saraf, alleged that the alleged persons Vinay Jain, Asha Jain and Vipin Aggarwal approached and induced his family by representing that their company name AVJ Developers (India) Pvt Ltd is constructing high standard flat in Sector Zeta-I, Greater Noida in the name of 'AVJ Heights'," police said.

Police further added that on the representation made by the alleged persons, his mother purchased five flats and his sister-in-law purchased six flats in the project and handed over entire sale consideration of Rs. 1.05 crore and 1.42 crore respectively to the alleged persons.

"The accused persons also executed MOU for the assured return and also agreed to buy back the flats and issued PDCs towards assured return/ buyback which was return unpaid on presentation," police added.

It was also alleged that the alleged persons have sold out their flats to other persons. The investigation has been taken up.