Cyberabad police busts land fraud worth of Rs 3.13 crores
Narsingi:The Economic Offence Wing(EOW) of Cyberabad commissionerate arrested three persons indulged in land development fraud on Monday. The accused cheated a realtor to a tune of Rs 3.13 crores under the pretext of registering a Development Agreement cum Power of attorney for development of a land.
The accused Patti Srikantha Rao with his wife Premalatha and Darshanam Shivaraj of Narsingi Village had cheated the realtor Ch.Srinivas Rao, who runs Surya Developers. The accused assured to make an agreement of development of a land consisting of 30 plots with Surya developers. However he failed to fulfil the assurance.
“The accused took Rs.3.13 crore by agreeing to register a Development Agreement cum GPA for development of 30 plots in Sy.No.298 at Narsingi village, which were allotted in 1982 for establishment of poultry farms for the beneficiaries. However they did not register the same” said Cyberabd police in an official statement.
Explaining the Modus operandi of the accused police said, “The accused convinced complainant that in 1982 they were allotted plots in Sy.No.298 of Narsingi to establish poultry farms for their livelihood land after locking period of 10 years they could develop them into residential plots etc and Non Objection Certificate(NOC)s had also been received for some of plots and NOCs were awaited for some other plots and they are the owners of such plots”.
Further they made an unregistered Development Agreement cum GPA with Surya Developers, involving the 30 plots land in Sy.No.298 and received an amount of Rs. 3.13 crores from the complainant stating that they would register the DAGPA later. But they failed to register the DAGPA (Development Agreement cum GPA), said Cyberabd police.
Cheque bounced
Even the cheque issued by the accused got rejected. “When the complainant insisted to return his amount, the accused Patti Srikantha Rao had issued two cheques. But these two cheques were dishonoured due to insufficient funds in his bank account,” said police.
After realising that he got cheated and the complaint approached Narsingi police of Cyberabad and filed a complaint with police alleging that, “The accused had prepared a false validation documents as registered in District Registrar office, Ranga Reddy and gave to the complainant for registration of DAGPA thereby cheated the complainant dishonestly for wrongful gain”. Narsingi police forwarded the case to the Economic Offences Wing, Cyberabad which exclusively deals with these kinds of financial crimes.
Economic Offences Wing PS, Cyberabad registered a case under sections 420(Cheating and dishonestly inducing delivery of property), 406 (Punishment for criminal breach of trust.), 464 (Making a false document), 467(Forgery of valuable security), 468(Forgery for purpose of cheating.) & 471(Using as genuine a forged document) of Indian Penal Code
