Mumbai: 54-Year-Old Pune Builder Files FIR Against 5 Individuals At Colaba For Alleged ₹6.5 Crore Fraud

Mumbai: Pune-based builder Vishwajeet Jhavar(54), owner of Marvel Dwellings Pvt. Ltd., has lodged an FIR at Colaba police station accusing five individuals from Nihita Investment Pvt. Ltd. for allegedly defrauding him of Rs 6.5 crore.

The five individuals identified as Sharafuddin Khan(85), Wasimuddin Khan(61), Fahimuddin Khan(59), Aazimuddin Khan(56) and Shamimuddin Khan(82).

According to the FIR, complainant Jhavar first met Wasimuddin Khan one of the accused in the Bombay GymKhana in the year of 2004 where they became friends. In the year of 2006 the accused purchased a few flats from Jhavar in Pune.

In 2008, Wasimuddin expressed interest in developing his 13,225 sq. ft. property on Shahid Bhagat Singh Road and asked Jhavar, given his expertise, to take on the project. Jhavar, eager for his first Mumbai project, agreed to a 75-25 profit-sharing arrangement. An agreement was made in 2012, and Jhavar began work, investing Rs 6.5 crore as per the deed and an additional Rs 3.5 crore in design costs, mentioned in the FIR.

As per the FIR, from 2015 to 2019, after investing crores in the project, the complainant asked Wasimuddin Khan and his partners to vacate the property, but they did not comply.

Unfortunately, in 2020, Jhavar sent a notice asking for either the property to be handed over or a refund with 18 percent interest, but this request was denied. Again, in 2023, when Jhavar sought the return of his investment, the accused claimed to have unilaterally canceled the agreement.

On August 24, an FIR was registered against all partners at Colaba police station under Section 420 (Cheating) of the Indian Penal Code.