According to police, Ayub and some others had floated a firm to build flats in Serilingampally here and also obtained permission from authorities in 2007 in this regard.
Some people had entered into an agreement with them. They were promised delivery of the flats within 20 months. However, the firm failed to complete construction of flats, following which customers approached a local court. After the court gave directions to police, a case was booked against Ayub, they said.
An investigation into the case has been initiated, the ACP said.
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