Realtor arrested for defrauding DLF, HMDA
Gowri Shankar Gupta, a prominent realtor, has been arrested on 22nd June in connection with a criminal case filed by construction giant DLF.
He was called for questioning and subsequently arrested, in accordance to a pending case of cheating Hyderabad Metropolitan Development Authority (HMDA). Soon after his arrest, the accused complained of chest pain and was admitted to hospital.
Gupta, with the help of his employees, used the name of DLF to obtain land from HMDA at a concessional price and he succeeded. HMDA believed that the proposal was from DLF’s and allotted the land but the proposed project did not start even after months passed by. So the HMDA officials contacted DLF and then both realised that it was a fraud.
DLF had lodged a case against Gupta for defrauding the firm of Rs 280 crore. Cases under sections 409 (criminal breach) and 419 (punishment for impersonating) of the Indian Penal Code (IPC) have been registered against Gupta.
To read more real estate news:
HMDA to open Outer Ring Road stretch in July
DLF’s Mumbai land sale deal captures strength
Source: The Economic Times
concessional price, criminal breach, Criminal case, DLF, fraud, Government land, HMDA, Hyderabad Metropolitan Development Authority (HMDA), Indian Penal Code, police custody, punishment for impersonating, realtor
