New Delhi: The Delhi Police on Monday (November 30, 2020) said that they arrested a Delhi man for allegedly looting over Rs 400 crore from 4000 people under a fake Delhi Development Authority (DDA) policy.
One of the main accused, Harender Tomar, 36, was absconding for long and sold his old residential accommodation at Roshanpura (Najafgarh) and went underground. He was detained at Kochi Airport by the Immigration Authorities while trying to flee to the Maldives.
"Amount of more than Rs 400 crores was collected by the Society from approximately 4,000 gullible investors and only 21.95-acre land was purchased in society through the registry and about 23.50 acres of land through GPA/Agreement to sell for the project in question," said the Economic Wing of the Delhi Police
"The cost of the dedicated land is less than half of the amount collected from the investors in the name of land cost and the remaining amount was misappropriated and siphoned off to various other entities," Delhi Police added.
Tomar in conspiracy with other associates, reportedly established a company 'Shree SidhdhiVinayak Realtors and Securities' and purchased land measuring approximately 11.77 acres and sold it to the Society at very high rates ie double-triple of the prevailing rates in the relevant span of time.
According to Delhi Police, approximately amount of Rs 120 crore was transferred from the Revanta Society to his company for the purchase of aforesaid land. Tomar and his associates are the beneficiaries in crores of rupees of the misappropriated funds of the Society. All the relevant bank accounts have already been got debit frozen.
Delhi Police said that the investigation has revealed that DDA envisaged a policy in the name of Land Pooling Policy for ensuring the availability of sufficient houses under planned development of Delhi and in anticipation of this scheme, various builders and promoters grabbed it as an opportunity to exploit the situation by showing rosy pictures to innocent flat buyers and raised huge amounts from them for advance bookings in the name of registration and allotment, etc.
Further, investigation regarding the roles of other conspirators and associated persons is in progress. Three accused persons – Satender Maan (Ex-President), Pradeep Shehrawat (President) and Subhash Chand (Secretary) have already been arrested in this case.
As per the report procured from DDA, it has not issued any license or approval to any of these societies and no one is authorized to advertise or market, book, sell, invite persons to purchase any plot or flat in any project under the land pooling area without any prior registration of the project under RERA.
Delhi Police said that various attractive schemes were being floated in the market by different societies and builders in the name of DDA's Land Pooling Policy demanding registration fee and initial payment booking of flats.
"However, DDA has not issued any license or authorized any developer or builder, society, company to undertake the process of development in the sectors under land pooling policy. Further, DDA shall be able to issue such provisional or final development licenses once the sector is qualified for development," said Delhi Police.
They stated that as per the notified policy, in order to make the sector eligible for development, a minimum of 70% contiguous land of the developable area within the sector - free of encumbrances is to be pooled.
Delhi Police informed that as per the investigation and the contents available on the alleged website, it has come out that the name of land pooling policy of DDA has been used to give an impression and spread a message in the masses that the projects are duly authorized by the competent authority.
They added, "In this way, the facts have been misrepresented and the material information with regard to the DDA's approval pertaining to the proposed projects has been suppressed in order to induce the public at large."
Further investigation is in progress.