Summary:
In 2012, the company procured money from several homebuyers and promised them flats within three years. Delhi Police’s Economic Offences Wing (EOW) arrested the director of MVL Ltd., a real-estate company, for allegedly duping homebuyers to the tune of “several crores” by not handing over promised homes at their Bhiwadi (Rajasthan) project called The Palms. AdvertisingThe director, Prem Adip Rishi, was produced at a Delhi court on Thursday. An FIR was filed against Rishi and six more directors of the real-estate company in 2018, which said: “MVL Ltd.
promised to deliver flats within three years i.e. A case under IPC sections 406 and 409 (criminal breach of trust), and 420 (cheating) has been registered against Rishi..