Bopal police have registered two FIRs against Jaideep Kotak and Hiren Karia, partners of Privilon Buildcon LLP and Bansi Developers, for allegedly cheating several buyers of more than ₹2.23 crore by selling shops and flats in proposed high-rise projects on land in Ghuma that was not owned by them.
According to the police, the accused allegedly attracted buyers through aggressive social media advertisements, offering premium residential and commercial units in two proposed projects — Richmond by Privilon, a planned 22-storey commercial-residential building, and Selestial, a 14-storey residential project.
In the first FIR, Shanti Jadav from Dhandhuka alleged that he was persuaded to invest ₹1.05 crore for a shop in the Richmond by Privilon project. During verification, authorities found that the land on which the project was proposed was never owned by the accused or their firms, making the deal fraudulent.
In another complaint, Jayjeet Gatha of South Bopal alleged that he paid ₹27.60 lakh for a flat in the Selestial project, which was also planned on land not owned by the developers.
Police said the accused allegedly collected an additional ₹90.31 lakh from several other buyers using similar claims, indicating that more victims may emerge as the investigation progresses.
Authorities have launched a detailed probe, examining documents, payment trails, and promotional material used by the accused. Cases have been registered under sections related to cheating, criminal breach of trust, and conspiracy, and further legal action is expected following the investigation.