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EOW registers case against private company for cheating investors

EOW registers case against private company for cheating investors

New Delhi: The Delhi Police Economic Offences Wing (EOW) had registered a case against the private company for cheating investors /homebuyers. Police said that the complainant in the case told them that in the year 2012 he saw the advertisement for the company's project in the newspaper.

"He contacted the company and on the next day, he met on the person in company's office. That person told them about company project in Yamuna Expressway in Greater Noida," police said.

After showing the brochure the person told the complainant that if he invests in the company's project he (complainant) will get possession of the flat in two years. It was also told to the complainant that the company has all approval and licenses regarding the project. A dummy model was also shown.

At the project site, the complainant show company's hoarding. After that in December 2012 complainant booked one flat.

The first payment made through cheque of Rs 4 lakh by the complainant. The money receipt came through the post in his house. The complainant told police that he had paid 30 per cent of money to the company.

After two payments company issued allotment letter on his name and after third payment builder buyer agreement was signed.

"The company said that the remaining payment will be taken after construction will start," complainant further told the police.

Later no work started by the company.

"I called them through phone and sent email but the reply was not satisfactory from the company side," the complainant told the investigating agency.

In 2016, the complainant visited the construction site no hoardings were seen of the said project and also the company removed the project from their websites without telling

him.

All the investors in April 2017 went to the company's office. The company's official told them that the construction will take time.

According to police, all other complaints received in the matter are also clubbed with main complaint.

The number of complaints at present is sixteen and on the basis of the contents of complaint and pre-registration enquiry an offence under sections 406, 409, 420 and 120 B of IPC.

Case against manager

A case of cheating was registered with the Delhi Police after a woman who claimed herself owner of the media institute has said that centre manager had entered into a conspiracy with other members of the institute to commit financial frauds.

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