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Real Estate CEO Arrested for Defrauding Lawyers of Rs 6 Crore in Gurugram

Published: March 02, 2026 | Category: Real Estate
Real Estate CEO Arrested for Defrauding Lawyers of Rs 6 Crore in Gurugram

The chief executive officer of a prominent real estate firm has been arrested in Gurugram for allegedly cheating around 50 lawyers of Rs 6 crore by luring them into investing in a project that he claimed would generate exceptionally high returns. The accused, Puneet Beriwala, 62, CEO of Vipul Limited and a resident of Sector 42, was arrested on Friday by the Economic Offences Wing. He was produced before a court on Saturday, which remanded him to two days of police custody for interrogation.

According to investigators, the lawyers, mainly associated with the Gurugram and Rohtak Bar Associations, were persuaded in April 2024 to invest in a proposed real estate venture. Beriwala allegedly promised to double their investment within a short period. To win their trust, he reportedly issued post-dated cheques worth over Rs 4.1 crore and assured them that repayments would be made from the sale of assets, including the firm’s V Club property on Sohna Road. However, the cheques were never honoured and he eventually stopped responding.

After repeated attempts to recover their money failed, the aggrieved lawyers staged a protest outside V Club in August last year, demanding strict action. A joint complaint was filed on October 1, following which an FIR was registered at Shivaji Nagar police station against Beriwala and his associates, Sunil Bhandari and Praveen Gupta. The investigation was later transferred to the Economic Offences Wing for a detailed probe.

During questioning, Beriwala told police that the money collected from the lawyers had been diverted into other real estate projects. Investigators are now scrutinising bank transactions and company records to trace the money trail and establish whether the funds were misappropriated.

“We are questioning the accused on police remand and are conducting raids to arrest his associates,” a Gurugram Police spokesperson said, adding that further legal action would follow based on the findings of the ongoing investigation.

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Frequently Asked Questions

1. Who is Puneet Beriwal
and what is his role in the fraud? A: Puneet Beriwala, 62, is the CEO of Vipul Limited, a prominent real estate firm. He is accused of defrauding around 50 lawyers of Rs 6 crore by luring them into investing in a real estate project with promises of high returns.
2. What did Beriwal
promise the lawyers to lure them into investing? A: Beriwala promised to double the lawyers' investments within a short period. He issued post-dated cheques worth over Rs 4.1 crore and assured them that repayments would be made from the sale of assets, including the firm’s V Club property on Sohna Road.
3. Why did the lawyers stage
protest? A: The lawyers staged a protest outside V Club in August last year after repeated attempts to recover their money failed. They demanded strict action against Beriwala and his associates.
4. What actions did the police take after the complaint was filed?
The police registered an FIR at Shivaji Nagar police station against Beriwala and his associates. The investigation was transferred to the Economic Offences Wing for a detailed probe, and Beriwala was arrested and remanded to police custody.
5. What is the current status of the investigation?
Investigators are scrutinising bank transactions and company records to trace the money trail and establish whether the funds were misappropriated. The police are also conducting raids to arrest Beriwala's associates and further legal action will follow based on the findings of the ongoing investigation.