Builder Lalit Tekchandani who was arrested by the Economic Offenses Wing (EOW) of Mumbai police on Tuesday in a case of fraud and forgery has been sent to police remand by court till February 5.
An EOW official said that the bank account of Tekchandani’s company Supreme Constructions has been seized.
The fraud case
When Tekchandani was produced in the court on Wednesday, the EOW official told the court that hundreds of flat buyers had invested in the builder’s project but they neither got the flats nor got their money back.
Since 2010, people booked flats in the building being constructed by Tekchandani but they have not received the flat yet. The complainant says that as soon as Covid-19 started, the work on this building stopped and is still closed.
Tekchandani was building nine towers of 35 floors and this tower is 80% complete but its further work has stopped. The EOW official said that around 105 buyers who had booked flats in this building have contacted him. These people have given a total of ₹30 crore from the year 2010 till the filing of the FIR.
Lalit Tekchandani under EOW radar
Tekchandani is accused of financial fraud against 160 customers, amounting to ₹44 crore. After a nine-hour interrogation by the EOW, he was subsequently arrested.
According to the complaint of Hira Jadhav from Chembur, Tekchandani, Kajal Tekchandani, Arun Makhijani, Hasan Ibrahim and Aji-Ex-Directors, Partners and Promoters of Supreme Developers Pvt Ltd had received a complaint of ₹73.60 lakh in the name of providing a house in the project and did not hand over the possession of the house.
