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Delhi police nab Kuber group chairman on cheating charges

Police today said it had arrested Kuber group of companies chairman Praduman Kumar Sharma on complaints from investors that he had misappropriated huge deposits.

Sharma was nabbed yesterday at Palam Vihar in Gurgaon near Delhi after keeping a close watch on a house where he was suspected to be staying.

During interrogation, it was found that the Kuber group had assets worth millions of rupees, including three buildings in Greater Kailash I, 250 acres of land near Gurgaon, 30 flats in Madangarhi, one acre in NEB Sarai, a commercial plot in Patparganj industriat area, three buildings in Bombay and other properties in Meerut and Lucknow.

According to a complaint lodged by one Hari Mohan Kapoor, he and his relatives had been cheated to the extent of Rs 1.8 million which they had deposited with the company under the teakwood plantation scheme, police said.

UNI

Business news

Delhi