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DELHI POLICE EOW ARRESTED A GHAZIABAD BASED BUILDER FOR ALLEGED FRAUD

The builder had allegedly sold the allotted apartments to more than one buyer

New Delhi, March 19

The Delhi Police Economic Offences Wing (EOW) arrested a builder who was accused of cheating the citizens in the name of buyback scheme.

The accused was identified as Sanjeev Shrivastava, Director of M/s Assotech Ltd. a leading builder of UP. 

DCP EOW Mohd Ali stated that the accused is involved in several such cases and was also arrested earlier by EOW.

The EOW had registered a case of cheating, fraud and criminal conspiracy against him under Sections of 406, 420 and 120B of the Indian Penal Code..

The EOW had received a complaint of Ashok Kumar Jain wherein he alleged that M/s Assotech Ltd. and its Director Sanjeev Srivastava and others jointly offered to purchase the flats with buy back schemes in their project NEST, Crossing Republic, Ghaziabad, U.P. He was induced to invest an amount of Rs. 2 crores as full consideration for 12 flats in the said project. He entered into agreement on in October, 2011. The alleged company issued the allotment letter for the 12 flats. As per buy back scheme the alleged company was supposed to pay to complainant a sum of Rs. 2,27,08,763/- against the invested money. The alleged persons failed to repay the said amount as assured.

The EOW officials said that Sanjeev Srivastava on behalf of the company had entered into agreement in October, 2011 with complainant Ashok Kumar Jain. As per agreement 12 flats in the project, The Nest, Ghaziabad UP were allotted to complainant for total sale consideration of Rs. two crores with buy back scheme. Complainant paid total amount to the accused company in March 2012. Further the above 12 flats which were allotted to complainant, have been sold to other persons in the year 2014-15 without the consent of the complainant.

Explaining the modus operandi, the EOW elaborated that neither the flats were delivered nor the amount assured was returned.

The EOW added that Shrivastava was arrested and later released on bail by the court.




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delhi police Economic Offences Wing (EOW) fraud builder

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