Gurugram: A big news to the real estate world has surprised investors. Prominent businessman Dhruv Dutt Sharma, who is the founder and CEO of 32nd Avenue and is also associated with 32nd Milestone, has been arrested for selling the same floor to multiple people. According to the police, an alleged fraud of about Rs 500 crore has come to light in this entire case. After his arrest on Friday, Sharma was produced in the local court, from where he was sent to six days police custody.

The case began in January, when a representative of Tram Ventures Pvt Ltd filed a complaint against Apara Motels, now known as 32 Milestone Vistas Pvt Ltd. It was told in the complaint that in the year 2021, the directors and shareholders of the company had proposed to sell a 3000 square feet unit located on the first floor of the 32nd Milestone Complex.

Accused of selling the same floor to many people

The deal was finalized for around Rs 2.5 crore and the entire amount was paid on 21 September 2021. But despite payment, the necessary documents were not given to the buyer. After this the company had to make rounds of offices for a long time. A shocking fact came to light during the investigation.

According to the police, between the year 2022 and 2023, important documents to the same floor were prepared in the name of 25 other persons. That means the floor which had already been sold was resold to different people. Police said that during initial interrogation, Sharma admitted that a deal was signed with the complainant company for Rs 2.5 crore, but the registration of that floor was not done in his name. Later the same floor was sold to 25 other people.

Economic Offenses Wing is investigating

According to the police, the same floor was taken from these 25 people on a 30-year lease through another company named Growth Hospitality Private Limited. This has raised more questions on the entire transaction. The Economic Offenses Wing is also investigating this entire network and the role of other people involved in it. Police say that in the investigation so far, there is a suspicion of fraud worth crores of rupees and further revelations may be made. At present the interrogation of Dhruv Dutt Sharma is going on and the police is investigating all the aspects to this case.