The arrests were made following a complaint filed by Vikas Kumar Goyal, director of Sambhav Tubes Private Limited and a resident of the Saraswati Nagar area. According to the police, Goyal entered into a land deal believing the property to be free of legal encumbrances, only to later discover that the land had been pledged to a bank.
Police said the accused had offered to sell approximately 22.347 hectares (around 54 acres) of land located in village Nevdha, under Simga tehsil of Balodabazar district. The agreement was finalised on October 15, 2025, after the accused allegedly assured the buyer that the land was clear and suitable for sale.
Based on these assurances, Goyal transferred ₹11.51 crore as advance payment through cheques and RTGS into the account of High-Tech Abrasives Private Limited on different dates. However, during subsequent verification, it emerged that the land had already been mortgaged with the State Bank of India by Global High-Tech Industries Limited, a sister concern of the company.
Investigators further found that in 2019, the Debt Recovery Tribunal (DRT), Mumbai, had passed an order authorising the bank to recover its dues from the said property, making any sale without clearance legally invalid.
When the complainant sought a No Objection Certificate (NOC) from the bank, the accused allegedly failed to provide the document and also refused to return the advance amount. A formal notice was sent to the company on January 9, 2026, but no response was received, police said.
Following the investigation, Saraswati Nagar police arrested Narayan Prasad Tekriwal, Pankaj Tekriwal and Pritam Tekriwal, who are associated with High-Tech Abrasives Private Limited as directors, promoters or shareholders. Nine other accused, including company associates and the property broker, are currently absconding.
Police have registered a case under Sections 318(4), 338 and 336(3) of the Bharatiya Nyaya Sanhita (BNS), dealing with cheating, criminal breach of trust and conspiracy. Raids are being conducted to trace the remaining accused, and financial records are being examined to establish the money trail.
Officials said the case highlights the risks involved in high-value land transactions and reiterated the need for thorough legal due diligence before entering into property deals. The investigation is ongoing.
