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Non-bailable warrants issued against two directors of Vigneshwara Developers

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A Delhi court today issued Non-Bailable Warrants (NBW) against two directors of realty firm Vigneshwara Developers in a case pertaining to alleged duping of investors to the tune of Rs 160 crores.

Chief Metropolitan Magistrate Vivek Kumar Gulia issued NBWs against Daryau Singh Dahiya and his son Sanjay Singh Dahiya, both directors in Delhi-based realty firm Vigneshwara Developers Private Ltd. "Issue Non Bailable Warrants against accused Daryau Singh and Sanjay Singh returnable for November 12, 2014," the CMM said after Kumar Kundan, Investigating Officer (IO) of the case, submitted that the two accused are evading arrests.

The court also extended the police custody of Sunil Dahiya, one of the directors in the company, who was arrested October 31, from Sunder Nagar area here. "IO states that further interrogation (of Sunil) is necessary and evidence needs to be corroborated with the statements of the accused. Police custody of Sunil Dahiya is extended till November 12, 2014," the CMM said.

On October 31, the court had granted five-day police custody of Sunil after he was arrested and produced before the magistrate.
All the accused are wanted in three cases registered at Economic Offence Wing (EOW) of Delhi police. "These cases were registered in connection of two projects launched by Vigneshwara Developers Pvt Ltd and its group companies at Manesar, Gurgaon and Sector-74, Gurgaon.

Approximately 700 investors had invested in these projects. "We had received complaints from nearly 350 investors who have been allegedly cheated to the tune of Rs 160 crores by the directors of the accused company," Deputy Commissioner of Police (EOW) Mangesh Kashyap had said. 

Acting on a tip-off, police had arrested Sunil Dahiya and seized BMW car, eight mobile phones, one iPod, one laptop, credit/debit cards and other documents from him.

According to police, it has been alleged in all the three cases registered with EOW that the directors of Vigneshwara Developers- Sunil Dahiya, Sanjay Dahiya and Daryao Singh Dahiya- induced the investors by way of media advertisement as well as by way of personal assurances to invest in their twin projects at Sector 74, Gurgaon and IMT Manesar.

Police had said the accused directors also induced various investors to enter into a barter transaction whereby investors were made to sell off their immovable properties to Vigneshwara Group of Companies and after making the payment against the sale consideration, got the same invested back in its projects

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