Mumbai: Realtor, son booked in Rs 418.5 cr cheating case

Pant Nagar Police booked a prominent city-based realtor and his son on charges of cheating and forgery to the tune of tune of Rs 418 crore.

The complainant has claimed that the accused and his son forged a letter and gave partnership to the latter, and shifted the office, without the complainant's knowledge, following which they took loans from various institutions. Police said that while no arrest has been made, they are investigating the matter and are likely to transfer the case to the Economic Offences Wing (EOW).

According to the complainant, he and the accused had established a realtor company, which held its office in Kailash Plaza in Ghatkopar East and of the four partners, when two of them resigned, the complainant and the accused were the remaining two. The complainant's daughter was appointed as the director of the company and their family held 502 shares in the company.

According to the statement recorded by the police, the complainant claimed that in 2013-14, when he was busy with his daughter's wedding, the accused allegedly moved the office space without the complainant's knowledge to another location in Ghatkopar (E), wherein they also moved the stationary and stamps, papers and documents without his permission. All this while, the complainant was under the impression that the accused had established a separate company for his son.

In 2018, the complainant realized that the accused had changed the address of their company and named his son as a partner on the official website, and learnt upon enquiry that they had used his daughter's forged extrinsic signature to authenticate the change. The complainant also alleged that the accused had misappropriated funds by taking loans in the company's name to the tune of Rs 418.50 crore, without the complainant's knowledge and cheated them. Accordingly, a case was registered at Pant Nagar Police station and investigation is underway.

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