NEW DELHI: A local court has requested an action-taken report from the police regarding a plea for the registration of an FIR against the promoters of the Gurugram-based “32nd Milestone” commercial project. The complaint alleges cheating, fund diversion, and significant financial irregularities.
Judicial Magistrate Devanshi Janmeja issued this notice on February 5, instructing the police to provide a report, with the next hearing scheduled for March 13.
The application was lodged by senior citizen Arvind Gupta, who accuses the promoters and associated entities of cheating, forgery, criminal conspiracy, and intimidation. The implicated parties include 32nd Vistas Private Limited, Growth Hospitality LLP, and their promoters—Dhruv Dutt Sharma, Shirin Sharma, and Mamta Sharma. Gupta seeks directions for FIR registration, freezing of bank accounts, asset attachment, a forensic audit, passport suspensions, and look-out circulars to prevent the accused from leaving the country.
According to Gupta, he invested in a commercial unit after being promised timely area demarcation. The promoters supposedly guaranteed 30 years of lease rentals, alongside a buyback option at any point. A long-term lease agreement was made with assurances of regular monthly rental income.
However, Gupta alleges that rental payments ceased from August 2025, with claims that the promoters failed to pay Taxes Deducted at Source (TDS) from September 2024 and defaulted on Goods and Services Tax (GST) payments. This resulted in losses for investors, employees, and the public exchequer.
The application claims investors were repeatedly assured that the rental and TDS payments were credited but were not reflected due to “technical issues,” which later proved untrue. Fabricated TDS certificates were allegedly circulated to mislead investors about statutory compliance.
When investors sought demarcation or invoked the buyback option, promoters allegedly claimed they couldn’t provide possession, raising concerns that the same units may have been sold to multiple buyers.
Serious allegations of fund diversion and siphoning have been made. The plea states that, despite earning rental income from operational businesses within the project, the promoters failed to pay dues owed to investors, employees, financial institutions, and statutory authorities, and misused substantial borrowings.
The application also notes protests outside the project site, with offices reportedly shut and essential utilities like electricity and water disconnected due to unpaid dues, while the promoters remain untraceable.
Additionally, the plea calls for an investigation into the promotional expenditures involving public figures, clarifying that no allegations are directed at any celebrity, and that the focus is solely on the source of funds for such promotions.
Recently, the Gurugram Police filed FIRs against the owner and certain officials connected to 32nd Avenue, a retail-and-entertainment complex, following investor protests concerning unpaid promised amounts.
