NEW DELHI: A court here has sought an action report from the police on a plea seeking registration of an FIR and stringent action against the promoters of Gurugram-based commercial project “32nd Milestone” for alleged cheating, misappropriation of funds and large-scale financial irregularities.Judicial Magistrate Devanshi Janmeja issued a notice on the application on February 5 and directed the police to submit a report on the action taken. The case will be heard further on March 13.
The application was filed by investor Arvind Gupta, a senior citizen who has accused the promoters and entities involved in the project of cheating, forgery, criminal conspiracy and criminal intimidation.
The plea names 32nd Vistas Private Limited, Growth Hospitality LLP and their promoters including Dhruv Dutt Sharma, Shirin Sharma and Mamta Sharma. It seeks directions for registration of an FIR, freezing of bank accounts, attachment of assets, forensic audit of finances, suspension of passports and issuance of lookout circulars to prevent the suspect from leaving the country.According to the complaint, Gupta bought a commercial unit in the project after being assured that the area would be demarcated soon. The promoters are said to have offered guaranteed rent for 30 years along with a buyback option at any stage. A long-term lease agreement has been entered into, with guarantees of regular monthly rental income, the plea said.
However, the complainant has alleged that rental payments have stopped from August 2025. It has further been alleged that the promoters have failed to deposit the tax deductions from September 2024 onwards and have defaulted in payment of Goods and Services Tax (GST), statutory returns and employee related contributions such as ESI and PF, leading to losses to investors, employees and the exchequer.
The plea alleges that the investors were repeatedly assured that rents and TDS amounts would be credited, but this was not the case due to “technical issues”, claims that were later found to be false. It also alleges that fabricated TDS certificates have been distributed to the investors to prove compliance with statutory obligations despite such deposits not appearing in official documents.
When the investors sought demarcation or possession of the units or invoked the buyback option, the promoters reportedly expressed their inability to transfer possession, raising fears that the same units might have been sold to multiple buyers.
There have also been serious allegations of abuse and money siphoning. The plea alleges that despite earning rental income from operational restaurants and commercial establishments in the project, the promoters have failed to clear dues from the investors, employees, financial institutions and statutory authorities. It is further alleged that significant loans were raised and misused.
The application also states that protests have been held outside the project site, offices have been closed and basic amenities such as electricity and water have been disconnected due to non-payment of dues, while claiming that the promoters are untraceable.
The plea also sought an inquiry into expenditure on promotional campaigns and endorsements involving public figures. It clarifies that no allegations have been made against celebrities and that the request is limited to investigating the origin of the funds used for such promotions.
The Gurugram Police recently registered FIRs against the owner and certain officials associated with 32nd Avenue, a shopping and entertainment hub, following protests from investors over alleged non-payment of promised amounts.
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