NRI doctor's group duped Rs 140 million by New Delhi Builder to construct hospital

Farmed Robbery

New Delhi, April 11, 2007
Col. Malwinder Singh

This is very serious, which is worst than the daylight robbery. The builder tried to make a fast buck by duping the NRI doctors hard earned money.

Naresh Chandra, 56, of Nidhi Group (I) Pvt Ltd, New Delhi was arrested on April 06 for allegedly luring NRIs in the name of a charitable medical trust and siphoning off nearly Rs 8 crore supplied by his victims for construction of a hospital in Dwarka.

In 2002, Naresh Chandra met Dr Khurana at a party and became a good friend friended him. Chandra then allegedly used forged documents to show himself as the president of the trust. "Chandra promised that he would obtain the bank loans and the requisite permit from DDA.

NRI Dr Sanjay Khurana along with other doctor friends- Ish Kumar, Rakesh Passi and Nirmal Kumar and Archana Khurana, had reportedly started a charitable trust called "Human Care Medical Charitable Trust." Naresh Chandrahad got the trust registered with the Registrar of Societies and showed in the papers that the trust had acquired land in Dwarka to construct a charitable hospital. He appointed himself General Secretary and his wife Shashi Singhal as the treasurer. Finally he made a success to collect Rs 14 crore from NRI doctors to construct a hospital.

Naresh Chandra received Rs 8 crore for the construction of hospital and Rs 4.75 crores for the land from doctors. The police officer said, "He opened 148 bank accounts in different names, into which he deposited the money. He made inflated bills to be paid to his construction company registered under the name of Nidhi Constructions."

In July 2005, NRI Dr Sanjay Khurana came to New Delhi to see the hospital's progress, but he found squatters instead. Along with other trust members, they found that Naresh Chandra occupied the land for his personal use. Naresh Chandra did not care anybody even all the NRI members of the trust met Chandra three times in August 2005.

NRI members of the Human Care Medical Charitable Trust registered a complaint with police for defrauding over Rs 14 crore when they realized that their money has been transferred by the accused to his own company's account. He was arrested on last Friday and now in judicial custody.

• Nidhi Group (I) Pvt Ltd is headed by Shri Naresh Chandra, a technocrat, who is having over 25 years of experience in different spheres of construction.
• Though his hard work & untiring passion for quality & his determination to meet dead-line, he has created a niche for the company as a top class builder.
• Meticulous planning, execution with modern techniques & use of high quality construction material are the hallmark of our completed/associated projects. Behind spectacular success of Nidhi Group (I) Pvt Ltd is a highly committed and motivated team of experienced & talented professionals, technocrats and architects.

• Nidhi Group (I) Pvt Ltd specialize in construction of housing complexes, apartments, farm houses, industrial buildings, multi-storeyed buildings etc., including civil, plumping & electrical jobs, both on 'TURN KEY’ basis & on item rate/ lump sum rate basis. We enjoy excellent reputation in the market for completing the construction in record time without compromising quality.
• Our trustworthiness can be gauged from the fact that our Bankers are committed to extend financial support for our projects in India & abroad.
• We are registered as class 1 Contractors without any tendering limit in prestigious Government Organizations e.g., CPWD, DDA & GDA. We also hold the membership of Overseas Construction Council of India (OCCI) an origination sponsored by the ministry of Commerce, Govt. of India. Shri Naresh Chandra, Chairman-cum-managing Director of Nidhi Group of companies had been elected as a member of the working Committee of OCCI for the year 1994-1995.