GURUGRAM: Gurugram police have arrested a man accused of defrauding around Rs 500 crore by selling the same floor of a building to over 25 individuals.
The suspect, Dhruv Dutt Sharma, director of 32nd Milestone (32nd Avenue), was taken into custody, according to police reports.
Sharma was presented in court and has been remanded into police custody for six days. Investigations suggest he deceived multiple victims, resulting in a hefty financial loss.
In January, a complaint was lodged by a representative from Tram Ventures Private Limited against Apra Motels, now operating as 32 Milestone Vistas Private Limited.
In 2021, the directors and shareholders of the accused company offered Unit No. 24 (3000 sq. ft.) on the first floor of the 32nd Milestone Complex for sale, which was agreed upon for Rs 2.5 crore on September 21, 2021.
After the transaction, the company entered into an agreement to sell the property but failed to execute the conveyance deed post-payment. The complainants found themselves repeatedly seeking resolution.
Despite issuing a notice on October 11, 2023, the accused company remained unresponsive. Allegedly, the accused continued to pay rent for the floor sold to Tram Ventures.
However, it was discovered that between 2022 and 2023, the conveyance deed for the same floor had been registered in the names of 25 other individuals.
Upon the filing of a complaint, police initiated an FIR at the Civil Lines station.
The Economic Offences Wing subsequently arrested Dhruv Dutt Sharma on Friday, who resides in DLF Camellias, Civil Lines.
During initial questioning, Sharma admitted that he, along with associates, had transacted with Tram Ventures for the first floor of the 32 Milestone Building in 2021 for Rs 2.5 crore, yet the deed was never executed in his name. Instead, he had leased the floor from the 25 new owners for 30 years under a different company, Growth Hospitality Private Limited.
Interrogations are currently ongoing.
