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Real estate tycoon Gopal Ansal has been ordered to stand trial for allegedly cheating and defrauding a private company and its promoters in the name of investment in a building at Connaught Place in Delhi in 1991. He faces charges of cheating, forgery and criminal conspiracy, while Sushil Ansal, a director of Ansal Properties, has been discharged. The complainant, Sachdeva & Sons Industries, had invested in Statesman House through an employee who was known to Gopal Ansal, but later discovered that receipts were issued only in the name of the employee and that the money was diverted to book a flat for him.
A recent ruling by a Delhi court has decreed that real estate magnate Gopal Ansal must stand trial for allegedly defrauding a private company and its promoters in a building investment at Connaught Place in 1991. Metropolitan Magistrate Yashdeep Chahal has ordered the framing of charges against Ansal for a variety of alleged offenses, including cheating, forgery, and criminal conspiracy. However, Sushil Ansal, a director of Ansal Properties, the accused company that was developing Statesman House, was discharged from the case, as the materials on record were "grossly insufficient."
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According to the complaint, Sachdeva & Sons Industries Pvt. Ltd. invested in Statesman House in 1991 through an employee, Krishan Bakshi, who was known to co-accused Gopal Ansal. The complaint alleges that the complainants discovered that the receipts were issued only in Bakshi's name and only toward the payment of a single flat in the project. The complainants contend that the accused parties conspired to deceive them to extract money and diverted that amount for booking a flat solely in Bakshi's name.
During the investigation, it appeared that Bakshi had booked a flat at Statesman House in January 1992 with Ansal Properties. The investigation further revealed that the entire amount received from the complainant for booking a property in Statesman House was diverted in favour of Bakshi booking a flat, according to the court's notes. The accused parties also forged documents in the process to cheat.
The court noted that Bakshi and Gopal Ansal were known to each other, and Bakshi was offered special treatment by Ansal Properties in view of the booking application form for the subject property. The booking was made without mentioning any payment plan or time of payment, which was mandatory for other buyers. The accused company relied upon forged and fabricated affidavit and indemnity bonds purportedly signed by the complainants, without seeking any response from them.
Furthermore, the complainants were never informed that the amounts received from them were diverted for the booking of a different property in the name of a different person, and they were never called in person, thereby raising grave suspicion. The accused company perpetuated this default and permitted the transfer of the subject property in the names of the subsequent purchasers despite knowing that the very ownership of the subject property was obtained on the basis of forged and fabricated documents.
The court adjourned the matter for June 1 for formally framing charges against the accused. This ruling serves as a reminder of the importance of conducting due diligence and ensuring that all parties involved in a real estate transaction are acting in good faith. It also highlights the potential consequences of engaging in fraudulent activities, as the accused parties in this case may face severe penalties if found guilty.
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