NOIDA: A Delhi-based company has accused representatives from two real estate firms of defrauding it of Rs 1.6 crore in a fraudulent property transaction involving Alphathum’s Noida World One project in Sector 90.
A complaint filed by NWD Soft Infrastructure Pvt Ltd’s legal head, Sakshi Budhiraja, at Sector 142 police station claims that representatives from Bhutani Infra and CBS International misrepresented ownership of a commercial unit in Noida World One and diverted payments.
An FIR has been filed against 11 senior executives—Gaurav Sharma, Rajesh Tandon, Sanjay Rastogi, Prem Bhutani, Aditya Raj Saxena, Naman, Naseem, Sakshi, Madhuri, Amit, and Anuradha Sharma—under sections 318(4) (cheating) and 61(2) (criminal conspiracy).
The complaint further alleges that both Bhutani and CBS allowed their offices to be used as a base for fraudulent real estate operations.
Bhutani Infra CEO Ashish Bhutani dismissed the charges as baseless and claimed they were misleading. “The allegations are unfounded and stem from misinformation. Unfortunately, they have been scammed by someone not affiliated with us. We will assist them in any way we can,” he stated.
NWD Infra stated that it was looking for commercial properties for setting up a Noida office last December when representatives from Bhutani approached them and presented properties managed jointly by Bhutani and CBS. The Delhi firm subsequently selected a Rs 4-crore property on the third floor of Tower C at Alphathum, a complex housing corporate offices, IT spaces, and retail locations.
The firm was informed that Gaurav Sharma would facilitate the transaction for CBS, while Rajesh Tandon, a promoter from Dubai, was linked to the property. A meeting was held at CBS’s office on January 6 to discuss deal details, during which Gaurav received a Rs 10-lakh cheque as an advance payment. However, promised CCTV footage and receipts were never provided.
The complaint further indicated that despite multiple visits between February 11 and 21, the accused failed to produce the promised documentation, citing various excuses. Gaurav went missing on February 10, leading his wife to file a missing persons report.
By February 14, the NWD Infra team met with CBS executives Sanjay Rastogi and Rajesh Tandon to finalize the transaction, yet both denied receiving any funds, despite acknowledging that the deal was discussed in their office.
The officials allegedly remained tight-lipped during subsequent meetings, raising suspicions about a broader conspiracy involving multiple parties.
On February 22, it was discovered that Gaurav had previously been involved in a similar fraud case in 2023, which led to his imprisonment, although he was later released on bail.
The complaint concludes that “the entire act of cheating, misrepresentation and fraud has been executed by all 11 representatives of Bhutani and CBS in collusion to misappropriate Rs 1.6 crore,” citing submitted evidence including cheques, agreements, cash transfer videos, and CCTV footage.
