Land builders booked for dishonest native realtor of Rs 9.77Cr

COIMBATORE: The district crime branch has registered a case against six people from Chennai for cheating a local realtor to the tune of Rs 9.77 crore. Police have formed a special team to nab the six,
K of Siruvani Main Road in Madampatti, engaged in real estate business, had lodged a complaint against the six. The complaint said that chairman of the Tamil Nadu Teachers Development Housing and Welfare Trust Viswanathan, his son V and directors of Lakshmipathi Venkat Kupe, Muthu Narayanan, Anitha Sudhakar and approached him in 2011 to buy a few acres of land at Perur Chettipalayam in Coimbatore.

Viswanathan had promised to give Thangavel Rs 650 per sqft of land if the project is successfully completed. “With the help of Thangavel, they bought 6.42 acres of land in Sudhakar’s name in June 1, 2011. They bought 2.71 acres of land was bought at Perur Chettipalayam in December 2012. Viswanathan converted the land to 165 plots (2,46,408sqft) and prepared layouts. He sold 71 sites for Rs 6.79 crore and gave Rs 90 lakh to Thangavel as his share. Thangavel had also invested a few crores of rupees to buy the land. As per the agreement, Viswanathan had to give Thangavel Rs 10,67,76,800. But, he received only Rs 90 lakh,” a police officer said quoting from the complaint.

Viswanathan and his family members cheated him of Rs 9, 77,76,900, Thangavel’s complaint said.

Based on the complaint, police have registered a case against the six people under Section 406 (criminal preach of trust), 420(cheating) and 34 (acts done by several persons in furtherance of common intention) of the Indian Penal Code.

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