Aditya Agarwal, a contractor in Rajkiya Nirnam Nigam, was arrested last night on a complaint by Agra-based stone supplier Madan Lal at Gomti Nagar police station, they said.
In the complaint, Lal stated that Agarwal had sublet him contracts of supplying stones and making statues of elephants and installing them at Ambedkar park in Noida.
Lal alleged that he completed the work but his payment was still pending and the dues were not being cleared by Agarwal, who threatened him of dire consequences.
The marble shop owned by Agarwal at Chinhat was raided and an elephant statue supplied by Madan was recovered, they said.
Agarwal's office at Vibhuti Khand in Gomti Nagar was also raided and cash, along with documents of some property and a computer were seized, they said.
