Delhi police arrests director of Value Infracon India Pvt Ltd wanted in more than dozen cases
Dec 06, 2020
New Delhi [India], December 6 : Economic Offences Wing of Delhi Police arrested another director (a lady) of Value Infracon India Private Ltd from Mumbai for allegedly duping more than a hundred victims of more than Rs 20 crores in Delhi and the national capital region (NCR), the police said on Sunday.
"Number of complainants reported that they had booked residential flats in the project namely Meadows Vista in Uttar Pradesh's Ghaziabad, launched by Value Infracon India Pvt Ltd. On the basis of misrepresentation, a lot of investors invested their hard-earned money in the project. However, they never delivered the flats to the homebuyers in the promised time and stopped the construction without any reason," the police said in an official statement.
Police further said that later it was revealed that the alleged persons (directors of the company) had never taken any permission for construction from Ghaziabad Authority and subsequently, the authority cancelled the lease of project Meadows Vista.
"The funds of the homebuyers collected for the flats have also been diverted and misappropriated by the alleged company," the police stated.
As the directors of the alleged company were wanted in more than a dozen cases across the Delhi and NCR and declared proclaimed offenders in many cases, the police started conducting raids at various locations in Delhi and the national capital region.
"The team has been tracking the movement of several Directors for the last one month. The hideout of one of the directors was located in Mumbai and searches at various locations in Mumbai were conducted. The team was finally able to arrest the lady from Andheri West area in Mumbai after hot pursuit," police added.
As per Delhi police, the kingpin behind the company is Pramod Kumar Singh, an ex-CRPF officer and husband of the arrested lady.
"He along with his wife opened a number of shell companies. They printed and published attractive brochures of the housing projects launched by their company in order to allure the homebuyers and misrepresented for the timely delivery of the flats with all international amenities. The other directors namely Praveen Kumar Singh and Ashish Verma have already been arrested from Delhi and NCR," police added further.
