In a shocking incident, real estate magnate Ponty Chadha, owner of Wave Real Estate Developer Group, and his brother Hardeep tragically lost their lives in a violent clash. Sources indicate that their deaths stemmed from a heated dispute over real estate properties that spiraled into chaos and ultimately led to their murders.
Law enforcement agencies took swift action, detaining around 15 individuals, most of whom were members of the Chadha brothers' respective security teams. As investigations develop, police are working diligently to uncover the identities of the culprits responsible for this deadly shootout.
The unfortunate event unfolded at the Chadha brothers' Mehrauli farmhouse on a Saturday morning. Initial reports suggest that the confrontation began as a meeting aimed at resolving ongoing property disputes. What commenced as a calm discussion rapidly escalated into violence.
According to NDTV, the meeting included around 30-40 men in attendance, with Mr. Gurpreet Chadha, better known as Ponty, arriving first, followed closely by Hardeep and his entourage.
A senior police official disclosed that Hardeep initiated the gunfire during the encounter. After Hardeep first targeted Ponty, a chaotic exchange of gunfire erupted from Ponty's security in response. The underlying issue remains rooted in the brothers' contentious real estate dealings.
The severity of the incident was alarming, with Mr. Chadha sustaining 12 gunshot wounds, while Hardeep was hit four times. Additionally, Narender, an employee of Ponty, was critically injured and required surgery following the exchange of fire.
Police were alerted approximately 30 minutes post the initial volley of shots, receiving a call made from within the premises at 12:30 pm. Disturbingly, this shootout marks a second troubling incident, as another case had been reported on October 5 from Chadha's residence in Moradabad, Uttar Pradesh.
Earlier this year, in February, the Income Tax Department conducted investigations into the Chadha residences located in Delhi, Lucknow, Moradabad, and Noida. Beyond real estate, Ponty Chadha's business enthusiasm extended into various domains including film production, liquor distribution, and sugar. Notably, he held the exclusive liquor distribution rights in Uttar Pradesh, granted by the Mayawati administration, and produced the Bollywood film 'Jo Bole So Nihaal' starring Sunny Deol.
Under the umbrella of his real estate empire, 'Wave,' he was in the process of developing numerous commercial and residential properties. The highly anticipated Wave City Center, which is still under construction, represents their latest township endeavor in the real estate sector.
Formerly recognized as Chadha Group, the Wave group has delivered notable entertainment complexes — Wave Cinemas — strategically placed throughout the National Capital Region and nearby locales. This includes the Centre Stage Mall situated in Noida's Sector 18, along with additional commercial projects in Moradabad, Kaushambi, Lucknow, and Ludhiana.
Ponty Chadha’s significant political connections have historically bolstered his various business interests, including real estate. His affiliations with the Samajwadi Party and the prior Mayawati government are widely acknowledged.
However, his ventures are not without controversy; suspicions linger over his liquor and sugar businesses. He faces allegations concerning the illicit acquisition of three sugar mills that purportedly led to extensive financial losses for the state, totaling approximately ₹124.70 crore.