Bombay HC Grants Interim Stay On Probe Against Promoters Of Project Kalpataru Radiance In Goregaon West

Bombay HC Grants Interim Stay On Probe Against Promoters Of Project Kalpataru Radiance In Goregaon West

A bench of Ajey Gadkari and Neela Gokhale, on June 28, stayed the probe while hearing a petition filed by the promoters.

FPJ News ServiceUpdated: Friday, July 05, 2024, 10:09 PM IST
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Bombay HC Grants Interim Stay On Probe Against Promoters Of Project Kalpataru Radiance In Goregaon West | Representational Image

The Bombay High Court recently granted an interim stay on the probe into the FIR filed against the promoters of Kiyana Ventures LLP for allegedly defrauding homebuyers in one of their project – Kalpataru Radiance in Goregaon West. 

A bench of Ajey Gadkari and Neela Gokhale, on June 28, stayed the probe while hearing a petition filed by the promoters. 

Their counsel Shirish Gupte and Subodh Desai argued that the trial court had not considered the intricacies of law while passing the Order directing registration of the FIR. Gupte submitted that the complainant had failed to adhere to principles established by the Supreme Court in several landmark judgments. These judgments outline proper procedure for filing such complaints, which was not followed in this case.

“In view thereof, ad-interim relief is granted,” the bench said and kept the matter for hearing on July 12.

The Mumbai police had registered a case against the promoters of Kiyana Ventures LLP, Parag Munot, Mofatraj Munot and Anju Munot from Kiyana Ventures, their partner Ismail Kanga, project in-charge Devesh Bhat, project director Narendra Lodha, and signatory authority Omprakash Mehta, in connection with an alleged fraud worth Rs17 crore in relation to a housing project called Kalpataru Radiance in Goregaon West. 

The Goregaon police filed the FIR on June 6 following an order by the Special court trying cases under the Maharashtra Protection of Interest of Depositors (MPID) Act. Several homebuyers claimed that they have not received possession of their flats even after a decade.

Ishwarlal Vanjara, and his wife visited the site of Kalpataru Radiance in April 2013, where they were informed that the project would be completed by 2017. In April 2014, they decided to buy a flat for Rs2.20 crore and paid a booking amount of Rs4.94 lakh. They subsequently paid a total of Rs2.09 crore to the developer through his housing loan and bank account.

In July 2015, a sale agreement was signed and the registration formalities were completed. Vanjara paid Rs2.2 crore for the flat, its registration, and the stamp duty, however, the developer allegedly failed to deliver the flat by June 2017 as promised.

Hence, Vanjara and five other flat purchasers approached the Special MPID Court, which directed registration of an offence. The petitioners had approached the HC challenging this.

A Statement was issued by Kiyana Estate LLP saying: “In the concerned property, almost 300 homes handed over 60 plus already moved in. The total number of homes are also 500+.”

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