Massive Real Estate Investment Scam by Sushma Buildtech Private Limited:

Massive Real Estate Investment Scam by Sushma Buildtech Private Limited:

Immediate Action Demanded Against Directors Binder Pal Mittal, Bharat Mittal, and Prateek Mittal

Investors Filed Complaints with the Prime Minister's Office, State Government, RERA, and EOW

Demanded Issuance of a Look Out Notice Against the Directors

Chandigarh 13 November ( Ranjeet Singh Dhaliwal ) : Everyone invests their life savings somewhere for a secure and better future. With this hope, approximately 1500 people from North India invested in residential and commercial properties in the real estate sector with a prominent real estate company, Sushma Buildtech Private Limited. Their dream was that investing in real estate today would yield profits in the future. But little did they know that not only their future but also their present would be filled with misery. Sushma Buildtech Private Limited, instead of providing properties to the 1500 investors, embezzled crores of rupees invested by them.  Directors of Sushma Buildtech Private Limited, Binder Pal Mittal, Bharat Mittal and Prateek Mittal, are accused of defrauding hundreds of investors through fraudulent real estate schemes and false financial assurances. When these investors demanded the return of their money from the directors of Sushma Buildtech, the directors handed over checks to a few, which bounced upon presentation at the bank.  Most of the investors then met with the company directors several times, appealing for the return of their money.  Finally, they filed complaints with the state government, the Zirakpur MLA, RERA, and the EOW, demanding the strictest possible action against the company directors and also requesting the issuance of a look-out notice against the accused due to the apprehension that they might flee the country. While interacting with media the investors, who gathered at the Chandigarh Press Club, stated that Over the past several years, Sushma Buildtech Pvt. Ltd. launched multiple high-profile projects including Sushma Pristine, Sushma Emperia, Sushma AeroCity, Sushma Hubtown, Sushma Joynest and several others across Zirakpur, Mohali, and adjoining regions. These projects attracted significant public investment due to the company’s strong marketing campaigns and assurances of secure and high-yield opportunities. Investors from various social and economic backgrounds — including defense personnel, retired officers, government employees, widow pensioners, Non-Resident Indians (NRIs), and small entrepreneurs — were lured with promises of assured monthly returns of 12% minimum on their investments, along with commitments for timely possession of completed units. Initially, investors received regular payouts, which helped the company build credibility and attract further funding. However, over time, the monthly returns stopped abruptly, project sites stalled, and construction progress came to a complete standstill. Investors who visited these sites discovered that no substantial development had taken place, despite years of promises and publicized progress reports. Subsequent investigations and communications have revealed deep-rooted irregularities and dubious operational practices within the company’s management. When investors began escalating complaints to authorities such as RERA, the Central Board of Direct Taxes (CBDT), the Ministry of Consumer Affairs, the Economic Offences Wing (EOW), and the local police, the company allegedly engaged in liaisoning and influence tactics to manage or dilute the impact of these complaints. As the situation worsened, information began circulating that the directors of the company — Binder Pal Mittal, Bharat Mittal, and Prateek Mittal — are allegedly attempting to divert investor funds overseas, particularly to Dubai and other foreign destinations, with the intention of securing their personal assets abroad before absconding from India. Such acts, if true, represent not only criminal breach of  trust and financial fraud but also economic offences of serious magnitude that merit urgent

Investigation under appropriate laws. This scam has already impacted an estimated 1500 Plus families, many of whom have lost their life savings. Victims have reported severe financial distress, deteriorating mental health and emotional trauma as they struggle to recover their investments or obtain possession of their properties. The silence and inaction of regulatory and enforcement authorities risk worsening this humanitarian and economic crisis We, the affected investors and citizens of the Tricity region, call upon the following authorities to take immediate and coordinated  action:

- The  Chief  Minister  of  Punjab  and  the  Punjab  Police  Economic  Offence  Wing  (EOW)

- The​Chandigarh​Administration​and​Mohali​Police​Commissionerate

- The Real Estate Regulatory Authority (RERA) and Ministry of Housing and Urban Affairs

- The Ministry of Finance and Enforcement Directorate (ED) to investigate the illegal transfer of funds abroad

- The Reserve Bank of India (RBI) and CBDT to examine possible tax evasion and money laundering

 This matter must be treated as a public interest emergency, as the fraudulent activities of Sushma Buildtech Pvt. Ltd. have shaken the trust of ordinary citizens in the region’s real estate and financial systems. The people affected are not mere investors — they are families, pensioners, and professionals  who  placed  their  faith  in  a  company  that  has  betrayed  them. We demand immediate intervention, a comprehensive forensic audit, and freezing of the directors’ domestic​and​international​assets along  with their passports  to prevent​further siphoning of public money.