Mumbai: The Economic Offences Wing (EOW) of the Mumbai Police has registered an FIR against the promoters of Shri Siddhi Infrabuild Group for allegedly cheating Godrej Properties Limited of ₹110 crore in a major real estate fraud linked to a project in Gujarat.
The FIR has been filed on the complaint of Nisarg Vinay Pandya (39), Senior General Manager of Godrej Properties Limited. The accused named in the case are Mukesh Patel, Kalpesh A. Patel, Kalpesh B. Patel, Jasmin Mukesh Patel, Shri Siddhi Infrabuildcon LLP, and Shri Siddhi Infrabuild Private Limited.
According to the complaint, between July 17, 2017, and August 15, 2025, Godrej Properties entered into development and loan agreements with the accused entities for the Godrej Garden City (Celeste) project in Gujarat. Under these agreements, Godrej Properties sanctioned a loan of ₹57.30 crore for the project.
In addition, substantial funds were collected from homebuyers. Investigators state that a total amount of ₹279.02 crore was received in connection with the project. However, instead of being utilized for construction and development, a significant portion of the funds was allegedly diverted for personal gains.
Godrej Properties has alleged that around ₹110 crore was misappropriated by the accused, in violation of the provisions of the Real Estate (Regulation and Development) Act (RERA) and the terms of the development agreements. The alleged diversion of funds resulted in wrongful loss to both Godrej Properties and the customers who invested in the project.
The FIR was initially registered at Vikhroli Police Station. Given the scale and seriousness of the allegations, the investigation has now been transferred to the Economic Offences Wing. The accused have been booked under Sections 318(4), 316(2), 316(5), and 61(2) of the Bharatiya Nyaya Sanhita (BNS), pertaining to criminal breach of trust, cheating, and criminal conspiracy.
Further investigation into the alleged financial irregularities and diversion of funds is currently underway.
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