Gurugram Builder Ocean Seven Buildtech Embroiled in Second Major Fraud Case, Accused of Cheating Investors

The dark clouds of legal trouble are thickening around Gurugram-based builder Ocean Seven Buildtech, as the company and its Managing Director, Subhash Chandra, now face a second First Information Report (FIR) for alleged fraud and forgery. This latest complaint, involving a staggering Rs 1.10 crore, casts a long shadow over the developer's reputation, compounding previous accusations of investor deceit.

The new FIR was lodged by Naveen Kumar, a distraught resident of Rewari, who claims he was swindled out of a substantial sum for a commercial unit that never materialized.

According to the complaint filed at the Kherki Daula police station, Kumar had invested in a 1,000 square feet commercial space within the "Ocean Seven Infrastructure" project located in Sector 95, Gurugram. His payments, totaling Rs 1.10 crore, were made diligently between 2012 and 2017, with the promise of possession by 2017.

However, the dream of owning a commercial unit quickly turned into a nightmare.

Kumar alleges that not only did Ocean Seven Buildtech fail to deliver the project as promised, but construction also ground to a halt. When confronted, the builder reportedly offered no refunds, leaving Kumar in a precarious financial situation and without the property he had paid for. The company, through its MD Subhash Chandra, is now under investigation for severe charges, including sections 406 (criminal breach of trust), 420 (cheating), 467, 468, and 471 (all pertaining to forgery) of the Indian Penal Code.

This isn't the first time Ocean Seven Buildtech has found itself in hot water.

A previous FIR was filed against the builder by Gurugram resident Sudesh Garg, who accused the company of a Rs 78 lakh fraud. The escalating number of complaints suggests a pattern of alleged misconduct, prompting the Economic Offences Wing (EOW) of Gurugram police to launch a comprehensive investigation into these serious allegations.

Authorities have confirmed that multiple complaints have been registered against Subhash Chandra and his company, painting a concerning picture of the builder's operations.

The ongoing investigations aim to uncover the full extent of the alleged fraudulent activities and bring justice to the aggrieved investors. The case serves as a stark reminder of the risks involved in real estate investments and the critical need for due diligence.