The managing director, of real estate company Dreamz Infra Limited have been arrested after the company failed to hand over the promised flats on time to customers who had invested in their project.  The deputy commissioner of police (south-east), Dr Boralingaiah, said they have arrested the three main people associated with the company.

“We have made around 10-15 arrests in this case as multiple cases have been registered against various stake holder of Dreamz Infra Ltd. The three main people associated with the company Sachin Naik, Mandeep Kaur and Disha Chudhury have also been arrested. Sachin Naik who headed the company has been arrested for second time on Monday as cases were mounting against him,” he said.

It is said that the CM has taken a serious view and have directed the COD to investigate the matter.  There are around 300 cases filed with the chief metropolitan magistrate court regarding the firm.

There are other two companies which had also been involved in similar type of fraud.

Many investors lured by the CHEAP PRICES fell for CHEAP TACTICS.  Most of them invested it in cash and many may not be able to prove the source of their money.

This is a boon for the scam tainted builders.

There are few builders, who have booked flats in 2009 and still under construction, but the buyers are still negotiating and discussing it on the internet.  Few noted builders are citing cases in the high court for the delay.