Vipul Ltd CEO Arrested in ₹6 Cr Gurugram Scam

In yet another case raising concerns about investment-linked real estate fraud in NCR, the CEO of Vipul Limited, Puneet Beriwala, has been arrested by Gurugram Police on charges of allegedly duping a group of lawyers of ₹6 crore. The 62-year-old executive, a resident of Sector 42, Gurugram, was taken into custody on February 27, 2026, in connection with a 2024 investment scheme that reportedly failed to deliver promised returns.

According to the complaint, the sequence of events began in 2024 when a group of lawyers invested ₹6 crore with Beriwala. The investment was allegedly made on the assurance of higher returns linked to a specific real estate project associated with Vipul Limited. However, after receiving the funds, the accused allegedly stopped responding to repeated calls and messages from the investors. Neither the principal amount nor the promised returns were repaid, prompting the aggrieved investors to initiate legal action.

The lawyers formally registered a complaint on October 1, 2025, at the Shivaji Nagar police station. Based on the complaint, an FIR was lodged under relevant provisions of the Indian Penal Code pertaining to cheating, criminal breach of trust, and conspiracy. The case was subsequently transferred to the Economic Offenses Wing 2 (EOW-2) for detailed investigation, given the financial magnitude and complexity of the allegations.

Prior to the arrest, the aggrieved lawyers had staged a protest in August 2025 outside V Club in Gurugram. During the protest, they demanded strict legal action and recovery of their funds. The public demonstration reportedly intensified scrutiny around the matter and may have accelerated investigative action by authorities.

On February 28, 2026, a local court remanded Beriwala to two days of police custody for interrogation. During questioning, he reportedly stated that the funds collected from the lawyers had been invested in other projects. However, investigators have not yet disclosed detailed information regarding the specific deployment or current status of the funds. Police are also conducting raids to locate and apprehend two other individuals named in the FIR—Sunil Bhandari and Praveen Gupta—who are currently absconding.

While the FIR did not publicly specify exact IPC sections, cases of this nature typically involve Section 406 (criminal breach of trust), Section 420 (cheating), Section 120-B (criminal conspiracy), and potentially Section 34 (common intention). The investigation remains ongoing, and further legal developments are expected as the Economic Offenses Wing examines financial records, fund flows, and related documentation.

This case adds to a growing list of real estate-linked investment disputes in the NCR region, where assurances of high returns have often been central to fraud allegations. For investors and professionals in Delhi-NCR, the episode serves as a reminder of the importance of due diligence. Verifying project details through official RERA portals, insisting on formal written agreements, avoiding cash transactions, and being cautious of unusually high return promises are essential safeguards.

Those who suspect financial misconduct are advised to approach the Economic Offenses Wing promptly to ensure timely legal recourse and investigation.