Delhi man arrested for duping 4000 people of Rs 400 crore under fake DDA policy
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Delhi man arrested for duping 4000 people of Rs 400 crore under fake DDA policy

New Delhi: The Delhi Police on Monday (November 30, 2020) mentioned that they arrested a Delhi man for allegedly looting over Rs 400 crore from 4000 individuals underneath a faux Delhi Development Authority (DDA) coverage. 

One of the principle accused, Harender Tomar, 36, was absconding for lengthy and offered his outdated residential lodging at Roshanpura (Najafgarh) and went underground. He was detained at Kochi Airport by the Immigration Authorities whereas making an attempt to flee to the Maldives. 

“Amount of more than Rs 400 crores was collected by the Society from approximately 4,000 gullible investors and only 21.95-acre land was purchased in society through the registry and about 23.50 acres of land through GPA/Agreement to sell for the project in question,” mentioned the Economic Wing of the Delhi Police 

“The cost of the dedicated land is less than half of the amount collected from the investors in the name of land cost and the remaining amount was misappropriated and siphoned off to various other entities,” Delhi Police added.

Tomar in conspiracy with different associates, reportedly established an organization ‘Shree SidhdhiVinayak Realtors and Securities’ and bought land measuring roughly 11.77 acres and offered it to the Society at very excessive charges ie double-triple of the prevailing charges within the related span of time. 

According to Delhi Police, roughly quantity of Rs 120 crore was transferred from the Revanta Society to his firm for the acquisition of aforesaid land. Tomar and his associates are the beneficiaries in crores of rupees of the misappropriated funds of the Society. All the related financial institution accounts have already been received debit frozen.

Delhi Police mentioned that the investigation has revealed that DDA envisaged a coverage within the identify of Land Pooling Policy for guaranteeing the supply of enough homes underneath deliberate growth of Delhi and in anticipation of this scheme, numerous builders and promoters grabbed it as a possibility to take advantage of the scenario by displaying rosy footage to harmless flat consumers and raised big quantities from them for advance bookings within the identify of registration and allotment, and so forth.

Further, investigation concerning the roles of different conspirators and related individuals is in progress. Three accused individuals – Satender Maan (Ex-President), Pradeep Shehrawat (President) and Subhash Chand (Secretary) have already been arrested on this case.

As per the report procured from DDA, it has not issued any license or approval to any of those societies and nobody is permitted to promote or market, e-book, promote, invite individuals to buy any plot or flat in any challenge underneath the land pooling space with none prior registration of the challenge underneath RERA.

Delhi Police mentioned that numerous enticing schemes have been being floated out there by completely different societies and builders within the identify of DDA’s Land Pooling Policy demanding registration payment and preliminary fee reserving of flats.

“However, DDA has not issued any license or authorized any developer or builder, society, company to undertake the process of development in the sectors under land pooling policy. Further, DDA shall be able to issue such provisional or final development licenses once the sector is qualified for development,” mentioned Delhi Police.

They acknowledged that as per the notified coverage, with a purpose to make the sector eligible for growth, a minimal of 70% contiguous land of the developable space throughout the sector – freed from encumbrances is to be pooled. 

Delhi Police knowledgeable that as per the investigation and the contents out there on the alleged web site, it has come out that the identify of land pooling coverage of DDA has been used to present an impression and unfold a message within the plenty that the initiatives are duly approved by the competent authority. 

They added, “In this way, the facts have been misrepresented and the material information with regard to the DDA’s approval pertaining to the proposed projects has been suppressed in order to induce the public at large.”

Further investigation is in progress.

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