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DELHI EOW NABS OWNER CUM DIRECTOR OF ASSOTECH CONSTRUCTION COMPANY FOR DUPING INVESTORS.

January 09, 2021 08:35 PM

New Delhi (Face2News)

Complainant Sudhir Kumar Gupta, was induced by the accused with false assurance to invest in his housing project namely ASSOTECH CANOPY to come up in Crossing Republic, Ghaziabad. He convinced the investor showing rosy pictures about the project being ideal for bulk investment as the construction has commenced and will be completed within stipulated time.

Dr. O.P. Mishra,  IPS , Joint Commissioner of Police, EOW, said, in the complainant was offered residential units in various Towers of the “Assotech Canopy.”Falling to the allurement given by the builder, he booked and invested amount for 40 Flats/Units.

Accused in police net
 As per the payment plan, complainant was to pay next 30% of the cost of flats within 60 days of booking. When complainant desired to make payment of 30%, accused asked him to wait for some time. Later, it was found by the complainant that the residential units booked in his name have been allotted to somebody else. Accused Sanjeev Srivastava again falsely assured the complainant about making alternative arrangements for flats in his other project.

Complainant accepted the offer of accused person under duress and paid additional 30% of the selling price as per plan paying a total sum of Rs. 51679010/-. During course of time when the complainant visited the project site he was shocked to find that the construction at the promised site had not even started.

After preliminary enquiry, a case vide FIR no. 171/16 dated 02.11.16 u/s 420/406/120B IPC PS Economic Offences Wing, Delhi was registered and investigation taken up. During investigation bank details were verified and relevant records/documents were scrutinized. Investigation from GDA revealed that no approval in the name of project “Assotech Canopy” is given by them. Further, the consortium M/s Crossing infrastructure Pvt. Ltd. revealed that the said project does not even exist in the township plan. On spot inspection, no construction was found till date.
 

The accused director was avoiding joining investigation despite repeated notices. In order to apprehend the accused a team comprising Insp. Nirbhay Kumar, Insp Dinesh Dahiya, SI Anurag (I.O. of the case), SI Amit, HC Shyam Veer and Ct Vikas under command of ACP Kapil Parashar and overall supervision of MsUrvija Goyal, IPS DCP EOW was constituted. The team finally apprehended the accused after sustained pursuit on 8th January, 2021 from Noida. There are many cases in EOW against the accused Sanjeev Srivastava, Director of Assotech Ltd and its sister concern companies. The accused was produced before the competent court in Delhi. Police remand of the accused is being obtained for further investigation.

The accused director was avoiding joining investigation despite repeated notices. In order to apprehend the accused a team comprising Insp. Nirbhay Kumar, Insp Dinesh Dahiya, SI Anurag (I.O. of the case), SI Amit, HC Shyam Veer and Ct Vikas under command of ACP Kapil Parashar and overall supervision of MsUrvija Goyal, IPS DCP EOW was constituted. The team finally apprehended the accused after sustained pursuit on 8th January, 2021 from Noida. There are many cases in EOW against the accused Sanjeev Srivastava, Director of Assotech Ltd and its sister concern companies. The accused was produced before the competent court in Delhi. Police remand of the accused is being obtained for further investigation.

MODUS OPERANDI: During the course of investigation, it was revealed that the accused persons started several housing projects with different names and made wide publicity with false promises. He takes investments in the form of booking amounts and initial deposits for promised housing units without taking required approvals from the regulating authorities / govt. authorities.

PROFILE OF THE ACCUSED: Sanjeev Srivastava is the main accused in the crime. Born on 30 July 1965 in a reputed family in Bihar, he got his high/secondary school education in Patna from a missionary school and completed B.Tech in civil Engineering from NIT Calicut. He entered into the business of real estate in 1986 by forming a company in the name of M/s ABS Construction Private Limited. Same company was later on merged into Assotech Contracts India Limited and in 2004-05 named as Assotech Limited. This company is headed by him and his brother Rajeev Srivastava. He remained Director in more than 26 companies of the Assotech group. Presently he is Director in about 40 companies. In order to raise more and more money they kept on launching new projects and used the funds raised from one project in the other project, a modus operandi to dupe investors.

LIST OF CASES AGAINST THE ACCUSED SANJEEV SRIVASTAVA INVESTIGATED BY EOW:  FIR no. 258/18 PS EOW,  FIR no. 323/17, PS Janakpuri,  FIR no. 189/18, PS EOW ,  FIR no. 169/18 PS EOW,  FIR no. 221/19 PS EOW ,  FIR no 121/15 PS EOW,  FIR no 33/17 PS Badarpur , FIR no 77/17 PS EOW .  

Further investigation of the case is in progress. 

 
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