The Delhi Police's Economic Offences Wing has taken decisive action against a real estate group. This follows clear directions from the Saket District Court in Delhi. Officers registered a formal case on Sunday. The allegations involve a massive fraud worth more than Rs 250 crore.
Core of the Gurgaon Land Dispute
Police sources confirm the case filing date was January 15. A private firm brought the complaint forward. This firm claims it was cheated in a major township development project. The project centered on a prime piece of land in Gurgaon's Dhuneila village. The total area involved is approximately 8.86 acres.
Details of the Broken Collaboration Agreement
The dispute originates from a collaboration agreement signed in December 2016. Under this deal, a company named St Patrick's Realty agreed to develop the land. In return, they were supposed to hand over 10,635 square yards of developed residential plots to the complainant. A key condition stated the complainant's share must be transferred first. The real estate group could only sell its own portion afterward.
The complainant alleges a serious breach of this agreement. Promoters of the real estate group built trust through repeated meetings. These meetings took place at their Aerocity office and at luxury five-star hotels. The Taj Mansingh in Delhi was one such location. Despite this, the group neither handed over the promised plots nor returned the original land.
Uncovering Further Allegations
During a related civil suit, a shocking revelation came to light. The real estate group allegedly sold the complainant's share of the land to third-party homebuyers. They did this without any consent. The group falsely represented themselves as the lawful owners of that portion.
Police officials state the accused collected hundreds of crores of rupees through such agreements. Investigators are now digging deeper. They are examining additional serious allegations. These include claims that the group cheated hundreds of individual homebuyers.
Furthermore, the probe will look into possible money laundering. Investigators suspect the group moved proceeds through associate companies. There are also allegations of significant tax evasion. The group is accused of registering properties at values nearly 40% below the actual market rate. This was allegedly done to evade stamp duty, income tax, and GST payments.
Legal Action and Ongoing Investigation
Police explained that no action was taken on the complaint initially. This inaction prompted the aggrieved private firm to approach the court directly. The Saket District Court then issued the necessary directions. Following the court's order, the Economic Offences Wing formally registered an FIR.
The First Information Report includes sections related to serious offences. These are cheating, forgery, criminal conspiracy, and criminal breach of trust. A thorough investigation into the entire matter is currently underway. Police are pursuing all leads related to the Rs 250 crore fraud case.
