New Delhi: In yet another case of duping, the Economic Offence Wing (EOW) of Delhi police has arrested a woman director of a real estate firm AJS Builders Limited, Madhu Singh from her Gole Market office. She has been alleged of duping several crores from over 300 investors. 

The EOW produced Madhu before the court of Additional Chief Magistrate Amit Bansal, who awarded her a five-day police remand.
It has been revealed that about 1,500 people have been deceived by Madhu’s firm. However, 337 people have lodged complaints with Delhi police with regard to cheating and criminal conspiracy.

After the court action, more people are likely to lodge their complaint. Public Prosecutor Rabindra Bhati had demanded that accused should be granted a seven day police remand.

He argued that the company has allegedly collected more than Rs 700 crore from 1,500 investors in the pretext of providing them flats in time bound manner. However, even after the deadline of three years ended, the investors were not provided flats.

JPN/Bureau