A BTM Layout resident has allegedly been conned of Rs 1 crore by four landlords staying in HSR Layout. The cops have registered a case of ‘criminal breach of trust’ in addition to cheating and dishonesty.
 
 
Realtor loses Rs 1 crore in a land deal gone wrong 1
 
Forty-four-year-old PK Chacko, is the managing director of Oceanus Dwellings Private Limited whose office is in PN Plaza building on 18th Cross, Sector 3, HSR Layout. The accused are Muninanjamma (93), N Nagaraja Reddy (72), B Govindamma (66) and N Vasudev Babu (47) who claimed to own 3 acres 9 gunta land in Singasandra.
 
On January 31, 2006, Chacko entered into a joint venture deal with them and paid them an advance of Rs 1 crore. Later, Chacko realised that the land was under litigation. When he asked for a refund, the accused asked him to give a No Objection Certificate (NOC), so they could sell the land to some other developer and pay back Chacko’s money.
 
On August 7, 2006, Chacko claimed to have given an NOC to the accused, but till date, the accused are alleged to have not returned his money. Instead, Chacko claims that the accused have allegedly sold off their joint venture land to a developer and cheated him out of the deal and the money he gave them. Incidentally, all the four accused stay in one house in Sector 6, HSR Layout.