Who was arrested in connection with the 32nd Avenue real estate case?

Dhruv Dutt Sharma, the director of 32nd Milestone (also known as 32nd Avenue), was arrested by Gurugram Police.

What are the allegations against Dhruv Sharma?

Sharma is accused of selling a single commercial floor to over 25 buyers and potentially defrauding investors of close to ₹500 crore.

What happened to the floor that was allegedly sold multiple times?

Police claim the floor was sold to multiple buyers and later leased for 30 years to Growth Hospitality Pvt Ltd.

Home / Crime and Justice / CEO Arrested for Alleged Multi-Crore Real Estate Fraud

CEO Arrested for Alleged Multi-Crore Real Estate Fraud

8 Feb

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Summary

CEO Dhruv Sharma arrested for allegedly selling one floor to over 25 buyers.
Total amount involved in alleged fraud could reach ₹500 crore.
Accused allegedly leased the floor to another firm after multiple sales.

CEO Arrested for Alleged Multi-Crore Real Estate Fraud

Dhruv Dutt Sharma, the director behind Gurugram's 32nd Avenue, was arrested by Gurugram Police in connection with an alleged large-scale cheating operation. Investigators claim Sharma sold a single commercial floor to over 25 different buyers, with the total value of complaints possibly reaching ₹500 crore. Sharma was remanded to six days of police custody as the Economic Offences Wing probes the matter.

During initial questioning, Sharma reportedly admitted that the floor was not transferred to the initial complainant and was instead sold to multiple individuals. Subsequently, the same floor was allegedly leased for 30 years to Growth Hospitality Pvt Ltd, another firm. This case raises significant concerns for investors regarding accountability in commercial real estate projects.

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