Mumbai: Real Estate Developer & CEO Booked For Alleged ₹13.65 Crore Fraud In Bhandup Flat Scheme

The Azad Maidan police have booked a real estate developer and CEO of his firm for allegedly forging documents and duping a partner of Rs13.65 crore under the pretext of providing 71 flats in  Bhandup.

The complainant, Khaysap Mehta, 52, is a resident of Worli. According to the FIR, he entered into a partnership with Atual Bharani and started Sunshine Group in 2002. In 2006, the group took over a project in Bhandup, deciding to develop 3.75 acres of land under the flagship of a sub-company, Sunshine Housing Pvt Ltd.

As per the complaint, the firm received all the necessary permissions prior to the construction. In 2010, Pratik Vira was appointed as the CEO and home buyers were given possession of 235 flats in 2014-15. 

However, in 2016, Mehta had a dispute with his business partner and the CEO. The matter went to National Company Law Appellate Tribunal and the Supreme Court, which appointed a mediator in 2018. The police said, to resolve the matter quickly, Via drafted terms and conditions and Mehta signed some documents. Mehta was promised 51% of company shareholding but the documents were allegedly fake. Mehta said Vira allegedly destroyed the documents. 

According to the FIR, Vira allegedly produced fake documents before the tribunal and high court to acquire 71 flats.