News: Gurugram EOW records statements of 36 investors in 32nd Avenue fraud probe and alerts ED-08-02-2026
Gurugram police’s economic offences wing (EOW) has recorded statements from at least 36 investors who say they were duped by Dhurv Dutt Sharma, chief executive of the firm behind the 32nd Avenue commercial project, officials said on Saturday. Investors gave agreements, deeds and bank statements to back their claims that promised monthly rental income stopped after one to two years of payments.
The complaints concern investments in the project on the Delhi-Jaipur road in Sector 15 Part II. Hundreds of investors were allegedly told their units would be leased to commercial firms for regular returns. Police are tracing the financial trail and have not reported any freezing or recovery of assets.
Assistant commissioner of police Vishal Kumar of the EOW said the new complaints are being clubbed with five existing FIRs because they are similar. He said evidence is being gathered in four more FIRs, along with the one on a Rs 2.5 crore fraud in which Sharma was arrested on Friday, and that he would be arrested in the others once the evidence is ready. Investigators are checking the bank accounts of Sharma’s firms, including Rs 2.5 crore allegedly taken from a private firm in September 2021 for a 3,000 sq ft first-floor unit. An FIR registered at Civil Lines police station on January 2 alleges Sharma transferred ownership of that unit to 25 other investors and then leased it in his firm’s name.
Most complainants said Sharma and the promoters induced them to invest with promises of monthly rent and long-term leases, with payments first credited to their accounts and later halted.
The first FIR, on December 20, came from a Greater Kailash 1 resident whose son bought a 271.45 sq ft shop in 32nd Galleries for Rs 28 lakh in December 2021. Rent at Rs 500 per sq ft was paid from June 2022 to June 2025. He also alleged that possession was never handed over and the shop measured only 100.45 sq ft. A second FIR the same day came from a Lucknow resident who bought an 80 sq ft shop for Rs 64 lakh in September 2023 on the promise of high rent under a 30-year lease, only to find no long-term lease and no rent since last year.
A third FIR, on January 1, was filed by the owner of a Delhi consultancy whose firm and three others paid for six commercial units in June 2010 on assured returns that never came. The fifth, on January 5, was filed by a Sector 81 resident who paid Rs 45 lakh in November 2024 for a 50 sq ft unit with rental assurance. The conveyance deed was never executed and the money was not returned after he cancelled the allotment in July 2025.
Sharma was arrested from his home at DLF Camellias in Sector 42 and a city court gave the EOW six days of police remand. He owns 32nd Vistas Private Limited, Growth Hospitality LLP and other firms in which close relatives are promoters. They are named in all five FIRs, and investigators estimate the fraud runs into hundreds of crores. Police have also informed the Enforcement Directorate to examine a money laundering angle. 32nd Avenue did not respond to HT’s requests for comment.
