Vipul Limited CEO Arrested in Gurgaon for Alleged Rs 6 Crore Investment Fraud Targeting Lawyers
In a significant development, Puneet Beriwala, the Chief Executive Officer of prominent real estate enterprise Vipul Limited, has been arrested by the Economic Offences Wing (EOW) in Gurgaon. The arrest follows allegations that Beriwala orchestrated a sophisticated cheating scheme, defrauding a group of lawyers from Rohtak and Gurgaon Bar Associations of approximately Rs 6 crore.
Details of the Alleged Investment Scam
The case, which has sent shockwaves through legal and real estate circles, originated in April 2024. According to police investigations, Beriwala allegedly approached multiple lawyers with an enticing investment opportunity. He presented what he described as a new real estate project, promising investors exceptionally quick returns and even doubling their money within a remarkably short timeframe.
To establish credibility and gain the trust of the legal professionals, Beriwala executed multiple written agreements and issued cheques totaling more than Rs 4.1 crore. Police documents reveal that he further provided verbal assurances, claiming that investor dues would be cleared from the sale proceeds of the V Club property located on Sohna Road in Gurgaon.
Legal Proceedings and Police Investigation
The First Information Report (FIR) was officially registered on October 1, 2025, at the Shivaji Nagar police station based on a detailed complaint filed by advocate Anil Kumar. The case has been registered under Indian Penal Code Sections 120B (criminal conspiracy) and 420 (cheating), highlighting the serious nature of the allegations.
Following the initial registration, the investigation was transferred to the specialized Economic Offences Wing for comprehensive examination. The EOW has alleged that instead of returning the invested funds as promised, Beriwala diverted the money to other projects, leading to additional allegations of criminal breach of trust alongside the primary cheating and conspiracy charges.
Investor Protests and Arrest Details
Police reports indicate that after receiving the substantial funds, Beriwala ceased communication with the investors, stopped responding to calls, and failed to honor the issued cheques. This prompted the aggrieved lawyers to stage a protest outside V Club in August of last year, where they raised slogans and demanded stringent legal action against the real estate executive.
The 62-year-old Beriwala, originally from Malviya Nagar in Delhi and currently residing in Sector 42, was arrested by an EOW team from the city on Friday. He was produced before a local court on Saturday, where the magistrate sent him to two days of police custody despite investigators seeking four days of remand. Beriwala is scheduled to be produced before the court again on Monday for further proceedings.
Broader Implications and Additional Allegations
Former Rohtak Bar Association president Deepak Kundu has revealed that approximately 50 lawyers were allegedly cheated in this scheme. Kundu further alleged that when Beriwala failed to repay the investments, he resorted to threatening the investors before eventually offering flats and shops as alternative compensation.
According to Kundu, Beriwala is named in multiple other cheating cases across Haryana, though this arrest marks his first apprehension by law enforcement authorities. The FIR also names Beriwala's associates, Sunil Bhandari and Praveen Gupta, as co-accused in the case.
Police spokesperson Sandeep Turan confirmed the arrest and custody details, while investigators continue to examine financial transactions linked to the accused. The Economic Offences Wing is meticulously tracing the flow of funds to determine the full extent of the alleged fraud and identify any additional victims or accomplices.
This case highlights growing concerns about investment fraud in the real estate sector and serves as a cautionary tale for professionals considering high-return investment opportunities. The legal community's involvement as victims adds a unique dimension to the case, potentially influencing how similar fraud cases are investigated and prosecuted in the future.
