The chief managing director of a construction company has been arrested from Jaipur for allegedly duping people of Rs 38 lakh on the pretext of giving them plots of land on the Ajmer-Jaipur road, the Delhi police said on Wednesday.

Anil Kumar Sharma (40), who founded his construction company over 20 years ago with its office in West Delhi's Janakpuri, kept launching new projects to raise money and dupe investors, they said.