Overview
- Sharma was arrested by Gurugram’s Economic Offences Wing and remanded to six days of police custody after a February 6 court hearing.
- The probe began with a 2023 complaint from Traum Ventures, which says it paid ₹2.5 crore in 2021 for a 3,000 sq ft unit that was never transferred by registered deed.
- Investigators allege the same floor was sold to as many as 25 buyers and then leased back for 30 years via Growth Hospitality, with assured rentals that stopped in August 2025.
- Police say at least 36 investors have recorded statements and five FIRs have been registered in related cases showing a similar pattern.
- The EOW is tracing possible diversion of funds to properties in Goa and Rajasthan as 32nd Avenue maintains a dispute with Traum Ventures was resolved and blames payment delays on tenant churn.