New Delhi, May 18 (IANS): In a major breakthrough in the Rs 42,000 crore bike bot scam, the Economic Offences Wing of Delhi Police on Tuesday said that it has arrested two beneficiaries of Gravit Innovative Promoters Limited and also identified properties worth hundreds of crore.

EOW Additional Commissioner of Police R.K. Singh said that arrested accused have been identified as Badri Narain Tiwari, a resident of Lucknow in Uttar Pradesh and Vijay Kumar Sharma, a resident of Gautam Buddha Nagar.

Both were arrested from Noida, he said.

With the arrest of two more accused in the case, till date the police has arrested 23 people in connection with the case.

Singh said that a number of victims had filed complaints against Sanjay Bhati and others of the Garvit Innovative Promoters Limited (GIPL) having its registered office in Gautam Budh Nagar for cheating of Rs 42,000 core.

He said that it has been alleged that accused persons have induced the victims to invest Rs 62,000 for a bike and to receive Rs 9,500 per month including principal and rental income on a bike for one year.

"Due to the lucrative offer, a number of victims invested their hard earned money in this scheme," Singh said, adding that in January 2019, the GIPL launched Electric-Bike scheme and offered to deposit Rs 1.24 lakh for a Bike and to receive Rs 17,000 per month till one year.

"Initially accused had repaid the assured amount but after winning the confidence of investors, they absconded," the Additional Commissioner said.

The officer said that during investigation account details of the GIPL were obtained from IDBI Bank Yamuna Vihar branch in Delhi, ICICI Bank Pallavpuram, Meerut/Khurja Branches and also from Noble Co-operative Bank, Noida.

"Reply from the RBI was also received, wherefrom it was revealed that GIPL was not registered with RBI as an NBFC and was not authorised to collect money from the public," he said.

"During investigation, it is revealed that over 8,000 complainants are Delhi based and their cheated amount is approximately Rs 250 crore. From the investigation conducted, a number of properties worth several hundred crores have been identified and investigation is in progress," he said.