P'kula Couple Booked for Duping Investors of ₹16 Cr

Bought properties that were about to turn into non-performing assets at dirt-cheap rates & lured victims to invest in these

- Naina Mishra

PANCHKULA: A couple in Panchkula has been booked for allegedly defrauding multiple investors to the tune of ₹16 crore on the pretext of high returns on investments in real estate and finance ventures.

The duo, Nitin Dua and Sangeeta Dua, residents of Sector 8, Panchkula, had allegedly gained inside information from UCO Bank, Sector-8 Panchkula, and Karnal, about properties that were likely to turn non-performing assets (NPA) and bought these at dirt-cheap rates before luring their victims to invest in these.

The case was brought to light by Kuldeep Arora, a Panchkula resident and one of the primary complainants. According to Arora's complaint, the fraud began in May 2022, when he met the accused duo, who were seeking assistance in purchasing a petrol pump. Over time, the accused presented themselves as successful businesspeople involved in various ventures under names such as Mahashiv-ansh Investors and Developers Pvt. Ltd., Jai Guru Ji Real Estate, and Maa Vaishnavi Vaastu and Jyotish Kendra. They allegedly boasted of earning vast sums of money and promised high returns to anyone willing to invest with them.