BENGALURU: A Bengaluru-based builder, who had duped 98 families of army personnel across the country 11 years ago, was finally taken into custody by the Ashok Nagar Police on Friday. A sessions court had issued an arrest warrant against him nearly one-and-a-half months ago. He was let off late in the night after he gave written assurances that the payment will be made within three months.
M B Basavaraj, Managing Director of Nandi Builders India Pvt Ltd, had duped retired army personnel, army widows and poor families of `3.61 crore by promising them developed plots. The promised layout ‘Soldiers Port’ though remained only on paper. Major R Ramesh, one of the investors who fought tooth and nail on behalf of the families, spotted him at a new office at Mekhri Circle in the morning and alerted the cops.
The families had made the payment through the Army Housing Co-operative Society Pvt Ltd on July 2007. They had lost money ranging between `3 lakh and `8 lakh. The builder bought 3 acres and 12 guntas at a cost of `2 crore in his name and showed the papers to the society.
He convinced them that it could not be bought in the name of the society as it was agricultural land and made them part with the money to develop it. After they realised they were duped, the society has been fighting legally against him.
Assistant Commissioner of Police Manjunath said the warrant against Basavarj was a fine-levy warrant and not a non-bailable warrant. The court warrant had to be executed before September 29.