New Delhi, Dec 30 (IANS): Delhi Police's Economic Offences Wing (EOW) has arrested a 57-year-old man for selling his house in national capital's upscale Vasant Vihar to multiple people, said an official on Friday.

The accused has been identified as Lalit Modi, a resident of Vasant Vihar.

According to Deputy Commissioner of Police, EOW, Jitendra Kumar Meena, BDR Buildtech Pvt Ltd Director Rajesh Gupta alleged that Lalit Modi owned a property on Paschimi Marg in Vasant Vihar and was in need of money in 2009.

"He approached the complainant company with an offer to sell the said property for a value of Rs 35 crore and accepted advance after depositing the complete chain of original title documents of the property in question," said the official.

During investigation, all the relevant documents, bank account, and other details of the accused were scrutinised and analysed.

"It was revealed that the accused is the owner of the property in Paschimi Marg, Vasant Vihar and he executed three different agreement to sell the property, in parts as well as complete, with three different parties and received the money from them but he neither executed the sale deed in the name of any of them nor did he return the money," said the official.

"Forensic experts confirmed that accused Lalit Modi had committed the crime and executed the payment receipts of Rs 34 crore. He severely caused wrongful loss to the complainant and wrongful gain to himself," said the official, adding that Modi was arrested on December 26.