New Delhi, Dec. 2 (IANS): Delhi Police on Saturday arrested three officials of a private company for allegedly duping investors, officials said.
A case in this regard has been registered under sections of 409, 420 and 120 of Indian Penal Code (IPC) in EOW (economic offence wing) police station.
The investigators have found the company officials allegedly diverted a fund of Rs 191 crore deposited by the investors.
Besides, they were also accused of failing to complete the project within the given period of time.
The accused have been identified as Surpreet Singh, Vijay Bahadur and Nirmal Singh. All of them hold the position of director in M/s Hacienda Project Pvt Ltd.
The company had booked apartments in a residential group housing project named Lotus 300 which comprises of 6 towers, at Sector 107 in Noida.
During investigation, it was found the company had extracted Rs 636 crore from investors and Rs 191 crore was diverted to its subsidiary company for another project.
