Realtor accused of Rs 450 Crore Scam in Bangalore
MD of IDEB Projects and Buildcon, Harkirat Singh Bedi was arrested by the Whitefield police following several FIRs being filed against him. He was accused of cheating 80 investors of about Rs 150 crore and several banks of about Rs 300 crore. He was released on bail later in the day after promising to settle the matter within a month.
Bedi’s business associates said, “He collected around Rs 8 crore from me to come up with a new mall at the Outer Ring Road. It was only after we did a background check on Bedi did we realise that the land, on which the Grand Mall was supposed to be built, had not received government sanctions,” he said.
The associate said that he had filed complaints, but Bedi was released on bail after promising the court and the police of an amicable settlement within 30 days.”
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