The former director of a pharmaceutical company was arrested on Wednesday for allegedly selling a mortgaged property in Lutyens’ Delhi.
Accused Manjit Singh has been sent to 14 days’ judicial custody, the police said.
₹245 crore
According to the police, Mr. Singh sold a house on Prithviraj Road to one Ashok Gupta reportedly for ₹245 crore in 2016.
The victim, who had allegedly paid ₹4.5 crore as the first instalment, later found the property was mortgaged for loan.
When Mr. Gupta approached Mr. Singh, he allegedly refused to speak to him and later refused to return the instalment as well.
Mr Gupta approached the police and a case was registered at Economic Offences Wing.
The police said several summons were sent to Mr. Singh asking him to join the probe but he failed to do so.
On Wednesday, he was produced in a Delhi Court, after which he was sent to judicial custody.
