Aggarwal (44) was earlier arrested by the Azad Maidan in a Rs 2.53 crore cheating case and on Tuesday, a court sent him to judicial custody.
MUMBAI: The city economic offences wing (EOW) on Wednesday arrested developer Pujit Aggarwal in a Rs 52.01 crore cheating case registered against him, his father and their firm Orbit Corporation Limited for allegedly cheating Capri Global Advisory Services (CGAS) Pvt Ltd.
Aggarwal (44) was earlier arrested by the Azad Maidan in a Rs 2.53 crore cheating case and on Tuesday, a court sent him to judicial custody. The EOW arrested Aggarwal from Arthur Road jail and will now produce him before a court on Thursday.
In the Azad Maidan police case, the complainant, the Capri Global Capital Limited (CGCL) said it had invested money in three flats in Orbit Residency Park in Sakinaka, promoted by Aggarwal, but had not yet got the flats.
The EOW took over investigation into the case registered on April 27 against Aggarwal at the Azad Maidan police station too. An EOW source said that they had earlier recorded Aggarwal’s statement. “He will be questioned thoroughly in the police custody,” said an officer. The Azad Maidan police had searched Aggarwal’s office in Worli and seized Rs 77 lakh, over 230 sale and purchase documents and three laptops, among other items, and also frozen his firm’s six bank accounts.
Ashok Agarwal, director of CGAS, told the police that accused and his father approached the firm, and claimed that Orbit Corporation was developing a real estate project, Orbit Terraces, in central Mumbai. “Aggarwal represented that the land on which Orbit Terraces was to be constructed was freehold and that they were in the process of amalgamating the said land with the adjoining land which would generate an additional FSI and upon the receipt of which, they would construct higher floors. s Orbit assured to sell eight units in the proposed building to us as per the terms and conditions mentioned in Orbit Terraces MoUs. The said eight units were to be acquired by us as an investment and that Orbit was to give a minimum return to us on the money invested by our company. The accused assured us that they would complete the construction within 24 months, failing which they would, before the expiry of such 24 months, find a buyer and would refund our invested money,” the complainant has stated. The complainant stated that they were later informed that Orbit failed to get an additional FSI. He told the police that Aggarwal neither gave them the flats nor did he return their money-Rs 52.01 crore.