Indore: City crime branch officials on Saturday arrested two directors of Phoenix Infra Estate International for their alleged involvement in land fraud cases in many states. They had sold about 500 plots and went underground after taking money from buyers.
ASP (crime) Amarendra Singh said that company’s director Vijay Gautam and Sudhir Budhe were on a run for a long time. Directors of another township were also involved in land fraud case and they were too booked by Betma and Vijay Nagar police for the fraud last year.
During interrogation, accused Vijay told police that he started real estate company Phoenix infra International in 2008 in partnership with one Jitesh Nishne and Abdul Jiwani, both residents of Maharashtra when they constructed multistory building in Nagpur and sold around 20 flats. Later, they signed agreement with Taranjeet Singh and Harman Singh Hora, residents of Transport Nagar area of the city and started real estate business with them.
They developed and sold 450 plots in Depalpur area, 250 plots in Saibaug Colony and 550 plots in Natural Valley. All these plots were sold to families that belonged to lower and middle class sections of the society. A dispute broke out among the company chiefs and later when the amount was transferred in the company’s account, the accused closed their office and ran away from the city. Vijay in his statements to police said that they also developed residential plots in Nagpur in 40 acres of land and sold 520 plots there and took money. Local police also registered a case against them.
Crime branch officials said that the nabbed accused confessed that he and other directors of the company had developed 120 plots on six bigha land in Uttar Pradesh and Lucknow police investigating the case. One more fraud case came to light in Nashik where the accused had developed 220 plots and sold to families. They ran away from the city before buyers could approach them for their plots, Singh added.
He added that the company even developed plots in Hoshangabad area of Bhopal on close to 28 acre of land and fled from there. A case was registered by MP Nagar police in Bhopal. The police had kept a reward of Rs 20,000 on each of the accused. Police are searching for other accused in the case.