Gurugram police’s financial offences wing has recorded statements of no less than 36 traders who filed complaints alleging they had been duped by Dhurv Dutt Sharma, chief government of the agency behind the thirty second Avenue business actual property challenge, officers stated on Saturday.
Investigators stated traders submitted agreements, deeds and financial institution statements to assist claims that they had been promised assured month-to-month rental revenue which stopped after one to 2 years of funds.
The complaints relate to investments within the thirty second Avenue challenge on the Delhi–Jaipur highway in Sector 15 Half II. Police stated lots of of traders had been allegedly assured that their models can be leased out to business corporations and would generate common month-to-month returns. Investigators at the moment are analyzing the monetary path and haven’t reported any freezing or restoration of belongings to this point.
Vishal Kumar, assistant commissioner of police (EOW), stated the brand new complaints are being clubbed with 5 present FIRs as they’re of an analogous nature. “We’re gathering proof in opposition to Sharma and his agency promoters within the 4 extra FIRs together with the one associated to ₹2.5 crore fraud during which he was arrested on Friday. On the premise of the proof, we are going to arrest him in different instances too,” he stated.
Kumar stated investigators are analyzing financial institution accounts of Sharma’s corporations to hint the circulate of traders’ cash, together with ₹2.5 crore allegedly taken from a personal agency in September 2021. A non-public enterprise had entered into an settlement to buy a 3,000 sq. ft first-floor unit at thirty second Avenue. An FIR registered at Civil Traces police station on January 2 alleged that Sharma transferred possession of the identical unit to 25 different traders and later received it leased in his agency’s identify, he added.
Police stated most complainants alleged that Sharma and his agency promoters induced them to speculate by promising month-to-month rental revenue and long-term leasing preparations. Investigators stated funds had been initially deposited into traders’ financial institution accounts as hire however later stopped.
The primary FIR was registered on December 20 on the grievance of Better Kailash 1 resident. He alleged his son purchased a 271.45 sq. ft store in thirty second Galleries for ₹28 lakh in December 2021 and obtained hire at ₹500 per sq. ft from Sharma’s agency from June 2022 to June 2025 earlier than funds stopped. He additionally alleged that bodily possession was by no means given and the store’s precise space was solely 100.45 sq. ft as a substitute of what was acknowledged within the conveyance deed.
A second FIR was registered the identical day on the grievance of a Lucknow resident, who alleged he and his spouse bought an 80 sq. ft store for ₹64 lakh in September 2023 after being promised excessive rental revenue by a 30-year lease association. He later discovered there was no long-term lease and hire funds stopped final 12 months.
A 3rd FIR registered on January 1 was based mostly on a grievance by proprietor of a Delhi-based consultancy agency, who alleged that his agency and three others paid for six business models in June 2010 with guarantees of assured returns that by no means materialised.
The fifth FIR, registered January 5 on the grievance of a Gurugram, Sector 81 resident who alleged that ₹45 lakh was paid in November 2024 for a 50 sq. ft unit with an assurance of rental revenue, however the conveyance deed was by no means executed and the cash was not returned even after he received the allotment cancelled in July 2025.
Sharma was arrested from his residence at DLF Camellias in Sector 42 on Friday and produced earlier than a metropolis courtroom, which granted the financial offences wing six days of police remand for interrogation.
Police stated Sharma owns thirty second Vistas Non-public Restricted, Progress Hospitality LLP and several other different corporations during which his shut members of the family are listed as promoters. They too have been named as accused in all 5 FIRs registered to this point in reference to the alleged fraud, which investigators estimate runs into lots of of crores. Gurugram police have additionally despatched an intimation to the Enforcement Directorate to look at the case from a cash laundering angle.
Regardless of a number of makes an attempt since Friday, PR didn’t obtain any response from thirty second Avenue relating to the allegations or Sharma’s arrest.
