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New Delhi, Feb 25 The Economic Offences Wing of Delhi Police has arrested a person for inducing and duping investors in the name of investment in a housing project.K. Ponniah (46), a resident of Thiruvarur district in Tamil Nadu, was arrested from Pudukottai district in the southern state on February 23.Ponniah had falsely assured the complainants that he has commenced construction for a housing project which would be completed soon. However, even after five years of investment, no possession was given to the victims.It was found during investigation that the accused person constructed two towers, namely Tower No 24A and 24B, at Poachanpur village in Dwarka Sector 23 in collaboration with the land owner. Later, it was found that the accused person took bookings for flats which were owned by the land owner as per the collaboration agreement.The complainants were induced by the accused person with false assurance to invest in his housing company namely Defence Personnel Welfare Housing Organisation (DPWHO) for project No. 24. He convinced the investors showing rosy pictures about the project being ideal for investment, promising that it will be completed within the stipulated time period.In 2014, the complainants were offered residential units in Tower 24B constructed by DPWHO. But till 2016, he did not hand over possession and in 2017, the complainants came to know that the flats booked by them were sold to other persons after which a case was registered. It is estimated that he duped the investors to the tune of Rs 2.5 crore approximately."The accused had joined the armed force in June 1994 as a havildar and took VRS in 2010. In the same year, he entered into the business of property dealing in the Dwarka area," said O.P. Mishra, Joint CP, EOW.( With inputs from IANS )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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Defence personnel welfare housing organisation, Latest News

National :Man held for duping people in garb of housing project

New Delhi, Feb 25 The Economic Offences Wing of Delhi Police has arrested a person for inducing and ... ...