Gurugram Real Estate CEO Arrested in Rs 6 Crore Investment Fraud Case

Puneet Beriwala, the CEO of real estate firm Vipul Limited, has been arrested in Gurugram for allegedly defrauding lawyers of Rs 6 crore through a fraudulent investment scheme promising high returns.

Illustration: Dominic Xavier/Rediff.com

Key Points

Puneet Beriwala, CEO of Vipul Limited, was arrested for allegedly defrauding lawyers of Rs 6 crore.
The lawyers invested in a Vipul Limited project in 2024 based on Beriwala's promise of high returns.
An FIR was filed after Beriwala allegedly stopped responding and failed to return the invested money.
The Economic Offences Wing is investigating the case and searching for Beriwala's associates.
Beriwala admitted to investing the defrauded money in other projects.

The CEO of a real estate company has been arrested here for allegedly duping several lawyers of Rs 6 crore on the pretext of investing their money in a project that he claimed would give good returns, police said on Sunday.

The accused, Puneet Beriwala (62), CEO of Vipul Limited and resident of Gurugram's Sector 42, was arrested on Friday. A court sent him to two-day police custody on Saturday, police said.

In a complaint filed on October 1 last year, some lawyers alleged that they invested Rs 6 crore in Vipul Limited in 2024 for a project after Beriwala promised them good returns.

However, after receiving the money, Beriwala stopped responding. Despite repeated requests, he did not return the money, the complaint stated.

In August last year, the complainants had staged a protest outside V Club here, raising slogans and demanding strict action against Beriwala.

Investigation and Arrest

Based on the complaint, an FIR was registered at Shivaji Nagar police station against Beriwala and his associates, Sunil Bhandari and Praveen Gupta. The investigation of the case was assigned to the Economic Offences Wing (EOW-2), police said.

After Beriwala was arrested on Friday, he told police that he invested the money taken from the lawyers in other projects, they said.

"We are questioning the accused after taking him on police remand and are conducting raids to nab his associates," a Gurugram Police spokesperson said.

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