Gurgaon: The economic offences wing ( EOW ) of Delhi Police has arrested one of the directors of real estate company MVL Limited , for taking money from hundreds of homebuyers for three residential projects — Coral and Palm in Bhiwadi and Indihomes in Gurgaon — and not delivering them on time.Homebuyers said a part of the MVL Coral project, which was supposed to be delivered in 2013, was built on illegally acquired land. Three of the towers have been delivered, while three others are unfinished, with excavation for one not having begun till date.Similarly, MVL Palm was sold without proper approvals, while in the case of Indihomes, which was to be delivered in 2011, possession is yet to be given, though buyers alleged they have paid up almost 95% in most cases.The director , Prem Adip Rishi, was arrested from outside Delhi high court on Wednesday and immediately produced before the chief metropolitan magistrate of Saket court, who sent him to five days of police remand. Buyers alleged there are several cases registered at the courts in Saket, Tees Hazari, NCDRC and Delhi high court, which have also issued bailable and non-bailable warrants against him. Sources said EOW had put Rishi’s mobile phone on surveillance and laid a trap to arrest him after he began to regularly skip court proceedings.EOW got involved in the case after receiving a complaint from homebuyer Varun Sharma early in 2018, in which he said he had invested Rs 2.20 crore in a construction-linked plan of the Palm project, but till date, no construction had started. It conducted an inquiry after similar allegations from 39 more buyers landed up. In April 2018, it recommended an FIR to be registered against Rishi under sections 120B (criminal conspiracy), 406 (criminal breach of trust) and 420 (cheating) of the IPC.“We have registered a case of cheating against the person. We arrested him on the basis of complaints we had received last year. He is being interrogated further to identify other suspects,” said Suvashis Choudhary, additional CP, EOW.

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