Mumbai: Developer Files Case Against Real Estate Agent & Society Members For Alleged Fraud In ₹75 Lakh Redevelopment Project

Mumbai: Developer Files Case Against Real Estate Agent & Society Members For Alleged Fraud In ₹75 Lakh Redevelopment Project

Further investigation uncovered that the Bombay High Court had issued a warrant of attachment for the society in February 2022, and the National Company Law Tribunal had assumed control of the property.

Megha KuchikUpdated: Tuesday, December 12, 2023, 01:10 AM IST
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Mumbai: Developer Files Case Against Real Estate Agent & Society Members For Alleged Fraud In ₹75 Lakh Redevelopment Project | Representative pic

A real estate development company has filed a case against six people for alleged cheating. Real estate agent Vinod Hirani and members of Om Prabha Ashish Co-operative Housing Society Limited are accused of concealing the uncleared title of the society, which was mortgaged with another company, and inducing AV Reality LLP into investing more than ₹75 lakh in a redevelopment project. The Bombay High Court has already issued a warrant of attachment against the society.

As per the FIR, Hirani contacted Aditya Vora (30) and his father Biren Vora (57), who run AV Reality real estate company, in March 2022. Hirani claimed to be associated with Shamik Enterprises Private Limited, active in the Vile Parle and Andheri. In April 2022, he informed the Voras that Om Prabha Ashish Co-operative Housing Society Limited in Vile Parle (East) was looking for redevelopment. Hirani assured them that the society’s title was clear, with no outstanding debts, and the members were eager for redevelopment.

Voras agree to undertake redevelopment of the society

Based on Hirani’s representations, the Voras agreed to undertake the redevelopment of the society. Hirani subsequently showed them the society and facilitated a meeting with society members. During the meeting, the board members also assured the Voras that the society’s title was clear, with no outstanding debts. However, they disclosed that in 2014, the society had entered into a development agreement with Shamik Enterprises Private Limited, which was cancelled in 2021 due to Shamik not adhering to the conditions. The society members requested the Voras to provide an offer letter.

In response, the Voras handed over an offer letter in April 2022, pledging ₹2 crore as corpus funds to the society. The society officially recognised Vora as the developer in May 2022. Subsequently, the Voras paid ₹23.65 lakh as hardship compensation to the society. In June 2022, the society, through an email, demanded an additional Rs1 lakh, not included in the agreement. Upon inquiry, society secretary Manoj Raje informed the Voras that the society urgently needed the money. Raje threatened to cancel the agreement if the funds were not transferred promptly, asserting that other developers were interested in the society's redevelopment. In response to the threat, the Voras transferred ₹1 lakh.

Voras engage in legal representation

Upon discovering that the society’s title was not clear, the Voras engaged legal representation, which revealed documents indicating that Shamik had mortgaged the society to Piramal Trusteeship Services Private Limited for ₹52 crore, which had not been repaid. Despite this, the society members assured the Voras that the title would be cleared and demanded the corpus funds. They threatened to cancel the agreement if the payment was not made. In compliance, the Voras paid ₹10.23 lakh to the society. Subsequently, the society board members demanded ₹5.05 lakh for the registration process, accompanied by further threats. the Voras, under duress, transferred the requested amount.

Further investigation uncovered that the Bombay High Court had issued a warrant of attachment for the society in February 2022, and the National Company Law Tribunal had assumed control of the property. Consequently, the society had no legal rights to the property.

In response to these fraudulent activities, the Voras have filed a case against Hirani (agent), Manoj Raje (secretary), Paresh Shah (Chairman), Dksha Shah (Treasurer), Shrinivas Surkanti (member), and Jitendra Parekh (member) under various sections of the Indian Penal Code at the Vile Parle Police Station on December 11.

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