EOW registers FIR of cheating against Noida's Prateek Group

02 Jul 2024 CW Team

According to the police document, the developers orchestrated a fraud amounting to over Rs 1.9 billion. The complainants allege that the 423 flats sold in Edifice were 10-12% smaller than what they had been charged for.

"The flats delivered to us were significantly smaller in size than what was promised. An architect conducted a survey after we approached the National Consumer Disputes Redressal Commission (NCDRC). Additionally, the developers carried out unauthorized construction beyond the sanctioned plan," said Rajeev Goyal, a complainant.

Prateek Group is also accused of collecting Rs 128 million as one-time lease rent from flat owners, while the amount payable to the Noida Authority was only Rs 64 million. The buyers claim the developer did not pay the amount to the Authority and delayed the handover of flats. Goyal mentioned that the flat he booked in April 2012, promised for delivery in December 2015, was handed over only in February 2019, despite having paid 95% of the total cost by May 2016.

"We eventually received possession after NCDRC's intervention, but many promised facilities and amenities were not delivered. There were numerous defects and deficiencies in workmanship, construction, and fittings," Goyal added.

The FIR further alleges that Prateek Group collected over Rs 90 million from flat owners as Interest-Free Maintenance Security (IFMS) but did not refund this amount to the association of owners despite notices from the Authority. The developer also charged more for grid electricity, meter connection, WiFi, cooking gas security, and sewer connections. Additionally, the builder charged Rs 188 million for purported water charge arrears.

The complainants accused the company of misusing prepaid sub-meters installed in flats to illegally recover charges for water and electricity. A spokesperson for Prateek Group stated that they had not yet received any communication from the police and noted that the flat owners who lodged the complaint have already been given possession. "Further action will be taken once we receive all the information," the spokesperson added.

(Source: ET)

The Economic Offences Wing (EOW) of Delhi Police has registered an FIR against the owners and senior management of Prateek Group, a Noida-based real estate company, following allegations of fraud by 20 homebuyers. The complaint, filed by buyers of Prateek Edifice in Sector 107, names owners Prashant and Prateek Tiwari, along with senior managers Sunil Kumar Mittal and Anshuman Sharma. According to the police document, the developers orchestrated a fraud amounting to over Rs 1.9 billion. The complainants allege that the 423 flats sold in Edifice were 10-12% smaller than what they had been charged for. The flats delivered to us were significantly smaller in size than what was promised. An architect conducted a survey after we approached the National Consumer Disputes Redressal Commission (NCDRC). Additionally, the developers carried out unauthorized construction beyond the sanctioned plan, said Rajeev Goyal, a complainant. Prateek Group is also accused of collecting Rs 128 million as one-time lease rent from flat owners, while the amount payable to the Noida Authority was only Rs 64 million. The buyers claim the developer did not pay the amount to the Authority and delayed the handover of flats. Goyal mentioned that the flat he booked in April 2012, promised for delivery in December 2015, was handed over only in February 2019, despite having paid 95% of the total cost by May 2016. We eventually received possession after NCDRC's intervention, but many promised facilities and amenities were not delivered. There were numerous defects and deficiencies in workmanship, construction, and fittings, Goyal added. The FIR further alleges that Prateek Group collected over Rs 90 million from flat owners as Interest-Free Maintenance Security (IFMS) but did not refund this amount to the association of owners despite notices from the Authority. The developer also charged more for grid electricity, meter connection, WiFi, cooking gas security, and sewer connections. Additionally, the builder charged Rs 188 million for purported water charge arrears. The complainants accused the company of misusing prepaid sub-meters installed in flats to illegally recover charges for water and electricity. A spokesperson for Prateek Group stated that they had not yet received any communication from the police and noted that the flat owners who lodged the complaint have already been given possession. Further action will be taken once we receive all the information, the spokesperson added.(Source: ET)

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Infrastructure Urban

01 Jun 2026

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

Infrastructure Urban

01 Jun 2026

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..