NEW DELHI: The Economic Offences Wing (EOW) of the Delhi Police has arrested the owner of Bainsla Housing Pvt. Ltd. for allegedly cheating a company in a multi-crore property deal in South Delhi.
The police were informed about the incident through a complaint registered at the Economic Offences Wing.
According to the police, the case was registered based on a complaint from M/s Energy Building Solutions Pvt. Ltd., which alleged that Bainsla, through his firm M/s Bainsla Housing Pvt. Ltd., misrepresented himself as a representative of Ashok Kumar, the supposed owner of a 16 Bigha 02 Biswa property in Samalkha, Tehsil Vasant Vihar, New Delhi.
An agreement to sell was executed on December 25, 2021, between M/s Bainsla Housing Pvt. Ltd., M/s Energy Building Solutions Pvt. Ltd., and Ashok Kumar for the sale of the property at Rs 31 crore.
A Service Agreement was also signed on December 30, 2021, wherein Bainsla promised to facilitate the transaction, including resolving litigation and handing over vacant possession of the land.
The complainant company subsequently paid Rs 3.70 crore between December 21, 2021, and February 15, 2022. However, Bainsla allegedly failed to provide the agreed services and did not comply with a later settlement agreement.
After ignoring investigation notices, he sought anticipatory bail from the court, which was denied. He was subsequently arrested on February 20, 2025.
Bainsla, a postgraduate and property dealer, is known for handling disputed properties. Police urge buyers to verify ownership, scrutinise legal documents, and ensure transaction legitimacy. Authorities emphasise “caveat emptor”—let the buyer beware—stressing due diligence in real estate dealings to avoid fraud.