Gurugram, Feb. 7 -- Gurugram police on Friday arrested Dhruv Dutt Sharma, the chief executive of the firm behind the 32nd Avenue commercial real estate project, based on a complaint of cheating filed by a company over the sale of a property within the high-profile complex. The 34-year-old, a resident of DLF Camellias in Sector 42 on Golf Course Road, was arrested by the Economic Offences Wing (EOW) of the Gurugram Police on Friday and produced before a local court, which remanded him to six days of police custody. In a FIR filed on January 2, Traum Ventures Pvt Ltd said Sharma and associates entered into an agreement for sale for a 3,000-square-foot commercial unit in the first floor 32nd Avenue building in September 2021 for Rs.2.5 crore. The company alleged it had paid the amount to Sharma but it never received ownership of the property. The FIR, of which HT has accessed a copy, was filed under Indian Penal Code (IPC) sections 120-B (criminal conspiracy) and 420 (cheating and dishonestly inducing delivery of property). "However, during our investigation, it has emerged that the ownership rights of the same property were transferred to at least 25 other investors between 2022 and 2023," said assistant commissioner of police (Economic Offences Wing) Vishal Kumar. He added that Sharma later entered into agreements with these investors to lease the entire 3,000 sq ft space back in his own name. Police said Sharma is the proprietor of several firms, including 32nd Vistas Pvt Ltd and Growth Hospitality LLP, and runs other companies with his parents and relatives listed as co-directors. The FIR also names ASP Products, Apra Motels and Apra Automobiles, as well as some of his relatives. Deputy commissioner of police (West) Karan Goel said the case in which Sharma was arrested is one of at least five FIRs registered against him and his firms at the Civil Lines police station in the past month. "The complaints pertain to investments made in commercial properties located within the 32nd Avenue complex, where multiple restaurants operate, as well as two other commercial buildings on the same plot," Goel said. He added that Traum Ventures is among 55 investors who have approached the police alleging fraud. While complaints from at least 55 investors have been formally recorded so far, police investigation suggests that the number of investors who may have been impacted could be in the hundreds, Goel said, adding that the probe is ongoing and more FIRs could be registered based on additional complaints. Police said they have also sent an intimation to the Enforcement Directorate (ED) to investigate if money laundering was involved. A senior EOW official, who spoke on condition of anonymity, said preliminary findings suggest that funds may have been routed across Sharma's multiple firms. Several investors told police that when they visited the site, they discovered that the units allotted to them were either shared with multiple buyers or consisted of small portions such as balconies, with the remaining area allocated to other investors. Sharma's firm did not respond to requests for comment till the time of going to print....