Mumbai Sessions Court Rejects Anticipatory Bail Of Housing Director Accused In ₹1,000-Crore Flat Buyers’ Cheating Case

Mumbai: The sessions court has refused to grant anticipatory bail to a ‘non-executive’ director of Zeus Housing & Construction Ltd, accused of cheating flat buyers in the company’s Zeus Residency project at Sion Koliwada. The court observed that Poonam Dhoshi, 53, was not merely a non-executive director but an active one.

Accused Allegedly Collected Over ₹1,000 Crore from Flat Buyers

According to the prosecution, Poonam and her husband, Ashit Doshi, directors of Zeus Housing & Construction Ltd, undertook the Zeus Residency project under the SRA scheme.

The complainant purchased two flats in the B-Wing for Rs 44 lakh and Rs 32.40 lakh, and two more in his father’s name for Rs 90.47 crore. It is alleged that the couple sold around 100 flats, collected over Rs 1,000 crore, and diverted the funds to other firms and personal accounts.

Earlier Bail Rejection and High Court Plea

Ashit’s anticipatory bail plea was earlier rejected by the sessions court and is now pending before the Bombay High Court. The couple has claimed there was a consent agreement and has moved the High Court to quash the case.

Flat Buyers Allege Double Sales and False Promises

Advocates Ashok Sarogi and RB Mokashi, representing the flat purchasers, opposed the plea, alleging that the accused sold some flats twice to different buyers. They further alleged that despite lacking permission to construct beyond 25 floors, the couple falsely promised 29 floors, collected money, and left the building incomplete for over 10 years.

Court Notes Lack of Cooperation from Accused

The prosecution said Poonam had signed sale agreements in 2013 and issued allotment letters in 2014.

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Rejecting her plea, the court said, “The applicant and her husband have not cooperated in the investigation. Moreover, the mere non-requirement of custodial interrogation is not a ground for granting anticipatory bail. Considering the nature and gravity of the offence and the applicant’s role, she is not entitled to relief.”

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