The Economic Offences Wing (EOW) of Delhi Police arrested a real-estate developer from Pudukkottai in Tamil Nadu on Tuesday for allegedly duping Rs 2.50 crore from investors in the guise of housing projects in the national capital.
The accused K Ponniah is on transit remand till February 27 and will be produced in the jurisdictional court in New Delhi.
According to Delhi Police, the accused falsely assured the complainant that he has commenced the construction work and would complete the project. However, even after five years, no possession was given to victims.
During investigation, it was found that the accused constructed two towers namely Tower No 24A and 24B in Poachanpur village Dwarka Sector 23 in Delhi in collaboration with the landowner. Further, he has been taking bookings of flats that were owned by the landowner as per the collaboration agreement.
The police verified the bank details and scrutinized related documents and records.
"During the investigation, it was revealed that accused K Ponniah (ex-servicemen) formed a firm namely Defence Personnel Welfare Housing Orgsation (DPWHO) in 2012. Then he made a collaboration agreement with the landowning company to construct two towers as 24A & 24B with 16 Flats each.
"After completion of towers, Tower 24 B will be owned by the land owner company and tower 24 A will be owned by the accused firm DPWHO," read the statement issued by Police.
Ponniah took bookings for the flats that were in Tower No 24B that is owned by the land-owning company. The accused was evading the process of the investigation despite repeated notices. During visits at his address, he was found missing and police were told that he fled to his native village in Tamil Nadu.
Despite a raid conducted by the investigation officer of Dwarka Sec 23 police station, the accused could not be traced and was declared Proclaimed Offender by the court on June 18, 2018, the police statement read
In 2019, the case was transferred to EOW for further investigation.
( With inputs from ANI )
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