Delhi Police arrests proclaimed offender in multi-crore real estate fraud case

The accused, identified as Shiv Nandan Singh Yadav, was wanted in connection with nine FIRs registered in 2019 following complaints by several victims who alleged they had been duped into investing in a housing project that never materialised. He was arrested on Friday from Faridabad in Haryana. According to police, the cases were registered on the directions of the chief metropolitan magistrate, Shahdara District, Karkardooma Courts. Investigation by the Economic Offences Wing (EOW) of the Delhi Police revealed that the complaints involved a common modus operandi and the same set of accused persons operating through M/s GRPL Globe Reality Pvt. Ltd. Police said the company had launched a housing project named "Krishan Kunj Township" at the Tilori Khadar village in Greater Faridabad in 2013. Through advertisements and assurances of a well-developed residential township, the company allegedly induced people to invest in residential plots. The proposed project was projected to comprise 496 residential plots spread across about 10.26 acres of land. However, investigators found that the company and its directors allegedly misrepresented facts regarding the project and did not possess sufficient lawful land required for the development of the township. After collecting substantial sums from investors, the accused allegedly failed to hand over the promised plots and abandoned the project, causing significant financial losses to buyers. Police said Yadav was absconding since 2019 and repeatedly evaded legal proceedings. After remaining untraceable for years, he was declared a proclaimed offender by a court in 2023 in all nine cases.