A 46-year-old builder has been arrested by the Delhi Police for allegedly cheating around 200 investors of crores of rupees on promise of giving them flats.
Economic Offence Wing (EOW) of the Delhi Police arrested Asit Mittal, a qualified business administrator, under various provisions of the IPC relating to cheating, criminal breach of trust and criminal conspiracy for not handing over buyers their flats on time.
According to the police, Mittal has been arrested in connection with a project launched by Advantage Engineers and Development Pvt Ltd, namely Shivkala Glamour City in Haryana's Faridabad. Around 200 people invested their money in the project.
"The investors alleged that the firm in connivance with other directors and other persons cheated the general public on the pretext of the pre-launch project. The alleged firm has not delivered the flats as promised to be given by the end of December, 2010," police said.
The investors reported that the firm had presented a rosy picture and allured them to invest in the project which was to come up at Sector-49, Faridabad and later on when they could not deliver the flats, the accused neither returned booking amount nor started the project.
Police said Mittal was also an accused in five other cheating, forgery cases but he was not arrested earlier.
It said Asit Mittal and his brother Mahim Mittal were the authorised persons on behalf of the company.
