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New Delhi, March 26 The Delhi Police has arrested two persons who allegedly duped 51 home buyers to the tune of Rs 11 crore, an official said on Saturday.The accused, identified as Akshay Jain and Prateek Jain, were taken into police custody on Friday.Furnishing details about the case, DCP (Economic Offences Wing) M.I. Haider said the complainants or victims reported that Directors of Manju J Homes Ltd. induced them to book flats in its proposed housing project namely 'Red Apple Homez' situated in Ghaziabad, Uttar Pradesh.In 2012, at the time of booking of flats, it was assured to the victims that possession of the promised flats shall be handed over within 3 years.However, till date, the construction at the site has not been completed and the builder company stopped paying EMIs to the banks.So far, 51 complainants, involving an amount of Rs 11 crores have approached the EOW, the official said.He said that several of these complainants have alleged that though the loan was sanctioned on their applications but without their knowledge, loan amount was disbursed to the builder by forging their signatures on several documents.After preliminary enquiry, a case under sections 406, 409, 420, 467, 471 and 120B of the Indian Penal Code was registered and investigation taken up.During investigation, it was found that the land of the residential project was registered in the name of the accused builder company."A notice under section 102 CrPC to the concerned District Collector, Sub-Registrar, SDM, Tehsildar, GDA, etc., was sent with the request that the land of the project was used to cheat the investors and no further transfer or creation of third party right on the same be allowed."The reply received from the Ghaziabad Development Authority has revealed that the permission for the project was accorded in December, 2015 and after that permissions from Fire Department, Environment Deptt. and Municipal Corporation were to be received," the official said.However, examination of the complainants/victims has revealed that the builder company prior to sanction of the project had started collecting funds from the investors since 2012.Further it was found that the builder company had raised the structures of the buildings and the construction was stopped in 2015.At present the project site was sealed by the Ghaziabad Development Authority for violation of the condition of license."The investigation also revealed that accused Prateek Jain and Akshay Jain in connivance with other co-accused persons namely Vijayanta Jain and Rajkumar Jain had started a company and launched a project namely Red Apple Homez to dupe the public," the official said. As per the police, both the accused started evading the investigation after joining the probe at initial stages."Both the accused were arrested on March 25 and they were taken on 1 day Police Custody Remand," the DCP said, adding that the investigation is currently underway.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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