Builder arrested for Cheating Homebuyers

                                                          CA Ramesh Agrawal

The Delhi Police’s Economic Offences Wing (EOW) has arrested a Builder who has cheated 31 persons of more than 10 Crores for booking of flats & shops at a real estate project in Haryana’s Rewari. Deepak Gusain, a resident of Ghaziabad in Uttar Pradesh is the accused who has been absconding for a  long time & look out notice was issued for him.

As per the officials, Pankaj Gusain advertised for booking of flats & shops in real estate project in Rewari for his company named “Asian Developers Private Limited” in 2012. Buyers made bookings & regular payments were made by them, but the construction was stopped by builder in April 2014.

The facts were misrepresented by the Builder before the public at large which induced them to invest in the project. Builder assured the investors for timely possession within 27 Months but after some time the construction was stopped & the builder went untraceable.

Deputy Commissioner of Police (Economic Offences Wing) Mr. M I Haider said that after analysing the accounts of the fraud company it was found out that the money of homebuyers was moved to different accounts. The Police also told that the Pankaj Gusain was absconding & he kept on changing his location & even did not joined investigation & hence Look Out Notice was issued for him. A Non Bailable warrant was issued for him.

The Police was able to catch him with the help of a tip, which was received that Pankaj Gusain would visit Tilak Nagar Area. So, with the help of field team Pankaj Gusain was caught. Police said that there are 3 other similar cases already registered against the company & its directors. Investigations for the same are going on.