THIRUVANTHAPURAM: Chennai reality firm Si Homes MD arrested for fraud. The City Police on Thursday captured the overseeing executive of a noticeable Chennai-construct developers assemble in light of charges of conning enormous measures of cash from speculators.
Ajith Thomas Abraham, 52, of Chennai is the charged. He is the overseeing executive of Southern Investments Private Limited, which builds and offers loft buildings and manors under the brand name Si Homes.
The police mentioned that Abraham was captured for purportedly deceiving over Rs 13 crore from upwards of 33 people in guarantee of offering flats in one of their undertakings, Green Hill Heights that was under development at Kudappanakkunnu close Peroorkada.
The complainants charged that they paid more than 90% of the cost of the lofts ahead of time in the year 2010 when crafted by the task began. It was guaranteed that the completed flats will be given over to the financial specialists inside three years. In any case, this guarantee was never kept.
Abraham figured out how to purchase additional time from the speculators refering to that the postponement was because of unforeseen budgetary emergency met by the firm.
The financial specialists chose to record protestation with the police around three months back as they trusted that there was no reason for holding up further.
Despite the fact that the police enrolled a case, they gave Abraham some more opportunity to either restore the cash or hand over the completed lofts, which he neglected to go along. Following this, the police arrested him from his office at Jawahar Nagar close Kowdiar on Wednesday night and recorded his capture, accusing him of segments 406 (criminal rupture of trust) and 420 (tricking) of IPC.
Peroorkada sub-investigator R S Sreekanth, who recorded the capture of the charged, said that the case was enlisted with one Susheel Mathew, a resigned worker of World Bank, as the fundamental complainant. Since every one of the grumblings were of comparable nature and against a similar individual, every one of them would be managed as a solitary case.
Abraham has told the police that he didn’t have any aims to cheat the speculators deliberately and he couldn’t keep the guarantee attributable to budgetary emergency.Abraham was produced before the court on Thursday and was remanded in judicial custody.
As per their official website, Si Homes that commenced its operations in Chennai in 1968 has a total of 157 projects in six major cities, Kochi, Thrissur, Kozhikode, Bangaluru and Chennai.
In Thiruvananthapuram, they have 25 projects out of which Green Hill Heights is the 24th project.