Panchkula realtor nabbed

Tribune News Service

Panchkula, March 26

The economic offences wing of the Panchkula police has arrested city-based realtor Vinod Bagai in connection with a 2019 case.

Bagai was arrested on Thursday but was granted bail on medical grounds. The case, registered at the Sector 20 police station, pertains to one of the 18 FIRs filed against the Samar Estates MD and his family.

The realtor has been accused of siphoning off investors' money from his housing project ESS VEE Apartments and delaying the possession of flats.

Two other accused in the case ndash; Vinod Bagai's brother Virender and wife Sunita Baghai, also directors of the firm ndash; were arrested in February this year and are currently in judicial custody.

The trio was booked on charge of fraud on July 31, 2019 and a special investigation team was constituted in August 2019 to probe the matter.

However, before the SIT could submit its report, the nation went into lockdown due to Covid-19, said the police.

Notably, Vinod Bagai had contested 2014 parliamentary elections as an Independent candidate from Panchkula but lost by a huge margin.

The Haryana Real Estate Regulatory Authority, Panchkula, had also issued arrest warrants against Bagai in February last year over non-compliance of court orders which had mandated him to appear in person before the authority.

Based on a complaint from an investor, the police had registered the first case against Bagai and others on July 31 in 2019.

In the subsequent FIRs, it was alleged that the company duped people of their money on the promise of delivering them three-BHK flats at Ess Vee Apartments in Sector 20.

At least 400 people have been awaiting the possession of flats in Ess Vee Apartments.

from The Tribune https://ift.tt/3stp04S