Supertech on Verge of Collapse? FIR Filed in Rs 9,000 Crore Fraud Involving 36,000 Buyers

Noida: In a significant legal development, Noida Police have filed a case against Supertech Builder for allegedly defrauding over 36,000 buyers across 17 of its real estate projects. The total fraud amount is said to exceed Rs 9,000 crore. The case has been registered at Sector 39 Police Station in Noida, naming nine directors and several other unidentified individuals as suspects.

The complaint was lodged by a representative of the buyers, Gulshan Kumar, who has accused the company of financial mismanagement and embezzlement of funds meant for the development of these projects. According to the complaint, the directors of Supertech misused project funds, causing huge financial losses to the buyers. The police have named the directors Ram Kishore Arora, Mohit Arora, Vikas Kansal, Anil Kumar Sharma, Gulshan Lal Kheda, Pradeep Kumar Goyal, Anil Kumar Jain, Mandipa Joshi, and Srishti Datta in the case.

UP STF Cracks Rs 70 Crore ‘Share Trading’ Scam: Two Key Gang Members Arrested in Ghazipur

The complaint further alleges that Supertech Limited, registered under the Companies Act since December 7, 1995, conspired with a major financier to commit this fraud. The company reportedly concealed information about Rs 9,000 crore from the Insolvency Resolution Professional (IRP), which amounts to fraudulent activity. The buyers have also accused the company of money laundering, stating that the promises made at the time of booking the units were not fulfilled.

The police have initiated an investigation, forming a special team to look into the matter. Sector 39 Police Station has assured that all aspects of the case will be examined thoroughly before further action is taken. The investigation will determine the next steps, and questioning of the named individuals is expected to take place soon.

Follow The420.in on

 Telegram, Facebook, Twitter, LinkedIn, Instagram and YouTube