Jun 06, 2025 07:10 AM IST
The victim invested ₹11 crore in the project and was promised 12 flats and a return on his investment
MUMBAI: The Dindoshi police have booked a construction company and two people for allegedly cheating a construction businessman of ₹5.97 crore by luring him into investing in a redevelopment project in Malad East and promising him 11 flats. The case has been transferred to the Economic Offences Wing of the Mumbai police (EOW) for investigation.
₹5.97 Cr” title=”Construction firm, two others booked for duping investor of ₹5.97 Cr” />The duped businessman, Vipul Narsi Bhavani, 46, a resident of Upper Govind Nagar, Malad East, complained to the police that in 2015 he was approached by the Padmavati Maitri Corporation’s Apurva Paresh Shah and another unknown person.
Bhavani told the police that Shah and his accomplice had initiated a redevelopment project under the name of Maitri Gaurav Co-operative Housing Society at Pahadi Village in Malad East. He added that they got him to invest ₹11 crore in the project and promised him 12 flats and a return on his investment.
Bhavani paid the sum on April 12, 2019, but claimed that the accused used the money for their personal gain. A police officer from Dindoshi police said, “The accused failed to complete the construction of the flats promised to Bhavani, and without his consent, they sold some of those flats to others and misappropriated the profit.”
Bhavani complained to the police on Wednesday and based on his statements the police registered a case under sections 318 (4) (cheating), 316 (2) (criminal breach of trust), 316 (5) (criminal breach of trust by a banker, merchant, factor, broker, attorney or agent), 61(2) (criminal conspiracy) and 3 (5) (common intention) of the Bharatiya Nyaya Sanhita.
Dindoshi police said that they are scanning the agreement documents and the transaction history to verify Bhavani’s allegations, and added that the investigation is being handed to the EOW, a specialised unit under the Navi Mumbai police, which investigates financial crimes.
