Press Esc to close
Friday 23 June 2017
News updated at 3:04 PM IST

Home buyers lose Rs 36 cr in fraud

New Delhi, May 6, 2014, DHNS: 4:05 IST
A real estate firm owner was arrested for swindling over 1,500 prospective property buyers to the tune of Rs 36 crore.

Manoj Bhardwaj, 41, chairman and managing director of city based real estate company Arun Dev Builders Ltd, was booked for selling flats in a pre-launch project in Haridwar.

The company had proposed a township project ‘Arun Dev City: Haridwar’ in 2006 without prior registration, land, approval or sanction of the site plan, police said.

Bhardwaj was arrested on Saturday after Delhi Police got complaints from several buyers.
“Thirty-six buyers had filed complaints with various police stations,” Deputy Commissioner of Police of economic offence wing Sanjay Tyagi said.

He said police found out that the developer got no clearance from the Uttarakhand government.

Bhardwaj, who faces charges of illegal bookings of pre-launch properties, has been booked on criminal charges of conspiracy to defraud prospective buyers.

He is in police remand now.

Arun Dev Builders Ltd collected more than Rs 100 crore from buyers for projects in Shahpura, Bhiwadi, Jaipur, Mandawar and Faridabad without having approval from the competent authority or the government, police said in a press statement.

According to police, Bhardwaj started his career as a property dealer by buying agricultural land and selling it as small plots to individuals.

In 1997, he floated his own company, which lured middle class buyers into affordable housing projects.

The company induced gullible investors by selling dreams through luring brochures and advertisements, police said.

Go to Top

Photo Gallery
Telugu actor Allu Arjun speaks during promotion of the film'DJ' in Bengaluru on Thursday...

Telugu actor Allu Arjun speaks during promotion of the film'DJ' in Bengaluru on Thursday...

A woman gingerly makes her way through a flooded road in Guwahati after heavy rains...

A woman gingerly makes her way through a flooded road in Guwahati after heavy rains...

A man jumps into Lake Walensee, with the Churfristen mountain range in the background...

A man jumps into Lake Walensee, with the Churfristen mountain range in the background...

A man sketches a portrait of Hindi Lord Shiva to earn money alongside a road in Kolkata...

A man sketches a portrait of Hindi Lord Shiva to earn money alongside a road in Kolkata...

A rhino with its calf at the Pobitora Wildlife Sanctuary in Morigaon district of Assam...

A rhino with its calf at the Pobitora Wildlife Sanctuary in Morigaon district of Assam...

An Icelandic horse shakes off flies in its paddock in Anspach near Frankfurt...

An Icelandic horse shakes off flies in its paddock in Anspach near Frankfurt...

The Namma Metro Train work is going on at R V Engeeniring College,Mysuru Road in Bengaluru...

The Namma Metro Train work is going on at R V Engeeniring College,Mysuru Road in Bengaluru...

Portugal's Cristiano Ronaldo attends a training session at the Spartak Stadium in Moscow, Russia...

Portugal's Cristiano Ronaldo attends a training session at the Spartak Stadium in Moscow, Russia...

A helicopter drops water as U.S. Forest Service firefighters and several other departments battle...

A helicopter drops water as U.S. Forest Service firefighters and several other departments battle...

A tiger licks a block of ice containing chicken parts offered by zoo keepers during the summer...

A tiger licks a block of ice containing chicken parts offered by zoo keepers during the summer...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.