Mumbai: A 60-year-old developer has been arrested by Shivaji Park police for duping 11 senior citizens from Dadar and nearby areas. The developer identified as Vishnu Jadhav had taken Rs 2.3 crore from the 11 senior citizens but he failed to give them possessions as promised. In 2007, Vishnu Jadhav's Sidhhi Vinayak Developers bought Navalkar building on Ram Maruti Road, Dadar, from its original owners. His plan was to redevelop the building. To buy and then redevelop the Navalkar building, Jadhav had taken money from 11 senior citizens who where interested in his projects and they were promised flats according to their investments.
All 11 senior citizens are from nearby areas, and they have invested in the project since 2007. As time was passing by and there wasn't any development in the project, the investors started demanding their money back. In January 2017, Jadhav issued post-dated cheques to the investors, but the cheques bounced. This led senior citizens to approach Shivaji Park Police station. In August last year, the police registered a First Information Report under Indian Penal Code section 420 for cheating.To evade arrest, Jadhav had even approached the Sessions Court with Anticipatory Bail Application (ABA) but the sessions court rejected his bail plea. The police arrested him on Wednesday and produced before the Bhoiwada court, which sent him to custody till June 14. "This was Jadhav's first project. He had bought the building and wanted to redevelop but he failed," said an officer from Shivaji Park Police station.
- SACHIN GAAD
