Mumbai: The Metropolitan Magistrate, Esplanade, has refused bail to Amarjeet Shukla, owner of Mid-City Heights, arrested on August 21 for allegedly cheating residents of a building undergoing redevelopment to the tune of Rs 55 crore.
Observation Made By The Court
The magistrate court, while rejecting his plea, observed, “The accused has deliberately entered into several transactions which he intended to cheat victims.” It also noted that victims and complainants presented material indicating that “the accused is involved in similar kinds of offences. Indeed, that cannot per se be considered as criminal antecedents, but that cannot also be ignored when the accused himself boasts about having no antecedents.”
According to investigators, Mid-City Heights was appointed to redevelop a residential building on Yari Road in Versova. The company assured 13 residents, who collectively owned 14 flats, that they would receive their new homes within a specified time frame. However, before the project was completed, the builder allegedly sold several flats to third parties without the residents’ knowledge or consent, the complaint stated to EOW Police.
When the promised homes were not delivered, residents discovered the alleged fraud. Shukla, in his bail plea, claimed no prima facie case or offence was made out against him, asserting the dispute was civil in nature and given a criminal colour to harass him. The investigating officer objected, stating Shukla transferred flats meant for original residents to third parties, cheated victims, and facilitated loans on these flats for personal gain.
The officer added that Shukla has been involved in similar offences and could misuse bail. Victims, allowed to intervene, submitted that, “This accused caused huge delay in the project and the informant and the victims have to suffer for the same. This accused has committed a fraud of more than Rs 140 crore by selling the same flats to various third parties for more than one time.”
The court noted, “The investigation is divulging new facts about the alleged criminal acts and new transactions. This progress will be definitely hampered if the accused is released on bail.” Hence, it found no cogent reason to grant bail.
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