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Economic Fraud

Fraud Case Against Vikas Oberoi of Oberoi Realty: FIR Unveils SHOCKING Details!

An FIR has been registered against the Managing Directors of IREO Group and Oberoi Realty Limited, along with seven others, for alleged cheating, criminal breach of trust, and forgery.



Gurugram: The primary accused in this case are Lalit Goyal, Managing Director of IREO Group, and Vikas Oberoi, Chairman and Managing Director of Oberoi Realty Limited. According to the FIR, both realty groups are alleged to have conspired to defraud allottees who invested their funds since 2013, resulting in significant financial losses for investors and the AIPL Group.

Background of the Allegations

AIPL has accused the IREO Group of embezzling approximately Rs. 1,777 crore, with around Rs. 1,376 crore reportedly recovered as advances from the allottees. Specifically, it is claimed that IREO collected Rs. 400 crore from about 70 allottees in the Grand Hyatt Residency Project in Sector 58, Gurugram, as part of an embezzlement scheme. This financial misconduct led to numerous cases being registered against the IREO Group, which were investigated by the Enforcement Directorate. Subsequently, Lalit Goyal was arrested.

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In a more recent development, Oberoi Realty Limited, which had entered into a joint venture with IREO for a luxury project in Delhi-NCR, is also under scrutiny. The FIR suggests that both IREO and Oberoi deliberately conspired to deprive investors and AIPL of their investments. The complaint notes that AIPL entered into a Memorandum of Understanding (MoU) with Oberoi Realty to complete the project and resolve ongoing litigation.

Legal Proceedings

The complaint filed by AIPL further asserts that the Oberoi Group, acting in bad faith, violated the terms and conditions of their agreement, causing AIPL a loss of thousands of crores. As a result, a case has been registered against nine individuals under various IPC sections, including 409 (criminal breach of trust), 420 (cheating), 467 (forgery of valuable security), 468 (forgery for purpose of cheating), 471 (using forged document), and 120-B (criminal conspiracy).

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A senior police officer has confirmed that an investigation is underway, and arrests will be made after verifying the facts.

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