Property dealer arrested in Delhi for cheating
Dec 30, 2022
New Delhi [India], December 31 : Delhi Police arrested a 57-year-old property dealer for allegedly cheating several people in the name of selling a house.
Economic Offences Wing of Delhi Police arrested the accused Lalit Modi, a resident of Vasant Vihar.
According to Deputy Commissioner of Police, EOW Jitendra Kumar Meena, the case was registered based on the complaint of Rajesh Gupta, Director of M/s BDR Buildtech Pvt Ltd. Gupta alleged that Lalit Modi owned property on Paschimi Marg in Vasant Vihar area and approached the complainant company with an offer to sell the said property for a value of Rs 35 crore.
Modi accepted advance money after depositing the complete chain of original title documents of the property in question. Thereafter, an agreement to sell-purchase dated June 24, 2014 was signed between the parties. Gupta paid Rs 34 crore to the accused on account of this sale. Modi on February 10, 2016 executed a General Power of Attorney and a Will in respect of the property in favour of Gupta, said police.
But the deal was not matured even after payment of almost 97 per cent of the total consideration, resulting into the publication of a public notice in April 2016 regarding the agreement of the complainant.
Thereafter, a sole arbitrator Naresh Gupta (Advocate) was mutually appointed on October 5, 2016, to decide the dispute between the parties. The Ld. Arbitrator on January 12, 2017 passed a degree of specific performance of the said agreement to sell in favour of Gupta regarding the said property with direction to execute sale deed in favour of the complainant on or before March 31, 2017 against handing over vacant possession at the cost and expense of the complainant.
Meanwhile, Modi on March 22, 2017, illegally cancelled the Will and General Power of Attorney dated February 10, 2016. Thereafter Lalit Modi entered into a sale agreement with Romi Garg to deprive his rights, said police.
After the registration of the case, the investigation was taken up by the EOW.
All the relevant documents, bank account and other details of Lalit Modi were scrutinized and analyzed.
Police investigation revealed that the accused executed three different Agreement to Sell pertaining to selling his property, in parts as well as complete, with three different parties and received the money from them but he neither executed the sale deed in the name of any of them nor he returned the money.
The Forensic Experts confirmed that the accused Lalit Modi had committed the crime and executed the payment receipts of Rs 34 crore, EOW, Delhi Police said.
Modi was arrested earlier this week.
