Mumbai: The Economic Offences Wing (EOW) registered a case against RNA Corporation Private Limited and its late Director Anil Kumar Agrawal, along with other Directors Saranga Agrawal, Anubhav Agrawal, Gokul Agrawal, and others, for allegedly cheating 132 individuals out of Rs.69.95 crores.
The company directors concealed the fact that they did not receive any permissions for their project, collected almost 95% of the amount from the customers, and failed to provide them with the promised flats. The case was filed with the EOW on July 18.
According to the police report, the complainant, a 45-year-old Mira Road resident, is an employee of a private company. In June 2010, RNA Corporation Private Limited conducted a large-scale advertisement campaign in Mira Road. The company's office was located in Bandra East.
The complainant decided to purchase a flat in the RNA company's project. After visiting the company's office and receiving information about the project, he finalized a flat price of Rs.51.03 lakhs. The complainant paid a portion of the amount to the developer and received an allotment letter from them. He paid a total of Rs.49.04 lakhs. In 2014, The complainant signed the agreement documents, which stipulated that the flat would be handed over to the complainant in 2017.
However, in March 2014, construction was halted due to a lack of permissions from various authorities, although the developer still demanded the remaining amount from the complainant and other customers. The customers attempted to meet with the company's directors but were unsuccessful. In 2016, Director Anubhav Agrawal met with the customers and assured them that the construction would be completed by December 2016.
Eventually, the customers filed a petition against the developers in the Bombay High Court, which ordered that the construction should be completed by 2019. The developers failed to comply, leading to the court appointing a court receiver.
Additionally, the Bank of India filed a case against RNA Developers for allegedly failing to repay a loan. This case was filed in the National Company Law Tribunal (NCLT). The NCLT, Mumbai, reportedly asked the firm to maintain the status quo, a decision which Director Anubhav Agrawal has challenged in the Supreme Court.
Ultimately, the customers approached the EOW, and a case was filed against the company and developers under sections 409 (criminal breach of trust by a public servant, banker, merchant, or agent), 420 (cheating), 120-B (criminal conspiracy), and 34 (common intention) of the Indian Penal Code, along with various sections of the Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management, and Transfer) Act, 1963.
A customer stated, "We filed the case based on the NCLT investigation because it revealed that RNA Corporation Private Limited transferred approximately Rs.550 crore to another company. Additionally, the developer violated several rules. Initially, he assured us that the flats would be handed over in 2014, then 2016, 2017, and 2018, but he never delivered the flats to the customers."
