Noida developer held for ₹165 cr bank fraud: EOW

📢 Unnati Fortune Group promoter arrested in ₹165 cr fraud case! Heads up, Noida investors: Anil Mithas of Unnati Fortune Group has been arrested by the Economic Offences Wing. The charges involve allegedly siphoning off a massive ₹165 crore in bank loans meant for the Aranya project in Noida, as well as Alder Grove/Uniworld Resorts in Gurugram. Apparently, the funds were diverted to shell companies and related entities. This is a serious development that could impact project timelines and delivery for Unnati Fortune's projects. Investors, especially those in Aranya, should keep a close watch on this situation. Does this news change your outlook on the Noida real estate market?