India, Feb. 20 -- A gang of nine people was arrested by Noida Police on Wednesday for allegedly falsifying ownership documents and attempting to sell a 375-square-metre plot in Sector 55, valued at Rs.12 crore, using fake registry papers. The fraud came to light when the genuine owner discovered that financiers were inspecting his land for a loan, police said.

Police said that the complainant, Shashikant Rai, 30, a Delhi resident from Vivek Vihar, approached Sector 58 police on February 14 after reviewing CCTV footage that showed a group breaking into his vacant plot in Block A, Sector 55, Noida.

During the investigation, police found that financiers from a private company had visited the plot to sanction a Rs.3.21-crore loan for Itesh ...