Mumbai: Builder duo booked for cheating real estate consultant to tune of ₹ 8.31 cr

Two Borivali-based builders have been booked for allegedly cheating a real estate consultant of ₹ 8.31 crore. The amount was the fees that the Prasam Realtors promoters, Hiren Parekh and Govind Parekh, owed to the complainant, Mukesh Agarwal, in lieu of his services. Later, Parekhs expressed financial inability to pay the money due to the Covid impact on business and instead offered flats in their project. But the duo didn't keep their word and sold the flats to third parties, said the complainant.

Victim provided services for redevelopment projects of builders

According to the first information report (FIR) filed with the Mumbai Police Economic Offence Wing's Housing Unit, Agarwal provided services for redevelopment projects helmed by Parekhs. “The developers have accumulated over Rs8 crore of my fees since 2010 for various projects. A letter acknowledging the debt was issued in 2021. Citing lockdown, the promoters expressed unavailability of funds and promised to clear the outstanding dues in the next 12 months,” alleged Mr Agarwal.

Accused offered five flats against debt

He further said that Parekhs later offered five flats in their upcoming project at Borivali against the debt and gave post-dated cheques for settling the interest. Three of the five flats were sold off without informing while the cheques were returned due to stop payment instructions by Prasam Realtors, Mr Agarwal added.

A case has been booked for cheating, criminal breach of trust, fraud and criminal conspiracy. 

Published on: Friday, January 06, 2023, 08:56 PM IST