Mumbai Police's EOW Registers Case Against Builder & Partners In Alleged ₹12 Crore Fraud

The Economic Offences Wing (EOW) of the Mumbai Police has registered a case against Kalyan Based builder and his partners from Mumbai for allegedly cheating a Byculla based businessman to the tune of ₹12 crores. 

According to the information received from EOW, the complainant Yusuf Saifi (51), who is a businessman and resident of Ghorpadev, Mazgaon. Saifi has said in the complaint given to the police that a project named Sai Nirvana was being started in the Shahad of Kalyan. This project was being done through Shanklesha construction.

Saifi has said in the complaint given to the police that he had invested ₹15 crores in the project for which he was promised 40,000 square feet area in the 22-floor latest tower Sai Nirvana built by accused. The accused had asked Saifi to give 44 flats in lieu of investment and had also made an MOU for it.

However they only registered 10 flats in his name and sold his other 34 flats to other parties.

When the complainant came to know about this, he complained about it to Mumbai EOW. Based on Saifi's complaint, EOW has registered an FIR against Manish Mutha (40), Vijay Sharma (35), Sharat Chajed (42) and Bhushan Jain (39) under sections 429(offence of mischief), 406(criminal breach of trust) and 120 B (criminal conspiracy) of IPC.

An EOW official said that the complainant Saifi had invested a total of Rs 15 crore in the year 2015, in return for which the accused were to give him a total of 44 flats but they gave only 10 flats to Saifi.