Gurugram: Realtor, loan firm booked for cheating buyer of Rs 1 crore

GURUGRAM: A developer and a housing finance company have been booked for allegedly cheating a buyer who had invested Rs 1 crore in a city-based real estate project. According to the complainant, the buyer booked a unit in a group housing project and secured a loan of Rs 85 lakh from a company backed by a nationalised bank in 2017.
As per the agreement, the company was supposed to release the amount to the developer in accordance with the status of the construction. But it released most of the loan amount to the developer even though there was no progress in the project. The project was not completed and when the buyer sent a notice for exiting the project, the company allegedly filed a case against the buyer for a cheque bounce.
Ashok Kumar Kaushik, a resident of Delhi, said his daughter Garima booked a unit in the developer’s Sector 68 project. Garima applied for a loan from the finance company and got sanction for a loan of Rs 85 lakh. He said it was a construction-linked plan and the company was supposed to release the payment in accordance with the status of construction.
“But in this case the company released Rs 60.2 lakh in September 2017 instead of Rs 41.1 lakh,” said Kaushik.
In February 2020, Garima through her lawyer sent notices to the company and the developer seeking an exit from the project as the subvention period had expired and not even a single rupee of the loan had been spent on construction of the tower in which her unit was booked. The tower’s construction had not even started.
“But instead of claiming back the loan from the builder, the company misused the blank cheques given by Garima. It was also credited with one EMI of Rs 51,378 in 2021,” he said. The company also presented a security cheque of Rs 42.5 lakh towards the alleged payment of EMIs which was not due and dishonoured, he said.
“The company has now filed a case against Garima in Jaipur, which is nothing but manipulative and done with mala fide intentions as the company didn’t seek to recover the loan from the developer. Their acts have tarnished the her image,” Kaushik added. Based on his complaint, an FIR was filed at Badshapur police station under sections 406 (criminal breach of trust), 420 (cheating) and 120B (criminal conspiracy) of the IPC on Wednesday. “Case has been registered and investigation is under way,” said police spokesperson Subhash Boken.