Mumbai: The Sessions Court has denied anticipatory bail to Shailesh Mistry and Naresh Barot of Pragatee Developers in a cheating complaint filed by a flat buyer. The complainant, Smita Panani, alleged that she paid Rs2.18 crore to the builders between 2011 and 2017 for a 2,160 sq ft flat in the redevelopment project of Ajay Sahavas ‘B’ Co-operative Housing Society Ltd on Nariman Road, Vile Parle (East).
She received an allotment letter dated May 12, 2011, after an initial booking amount of Rs50 lakh. However, the society later cancelled the development agreement. The builders promised to refund her money and issued cheques, but she was allegedly prevented from encashing them. Panani then approached the Vile Parle Police Station, fearing no action, and filed the complaint.
Mistry and Barot sought anticipatory bail, arguing the matter was a civil dispute wrongly given a criminal colour. They highlighted that no FIR had been registered even after over a decade, they had cooperated with police by recording statements thrice, and the delayed complaint appeared motivated and false. They claimed custodial interrogation was unnecessary. The court rejected their plea, observing that the builders had used the complainant's large sum for more than ten years without returning it or allotting a flat.
When asked if they were willing to refund, their lawyer admitted no amount had been returned so far, nor were they in a position to pay soon. “This shows their intention to grab the money,” the court noted. It dismissed the civil dispute claim, calling it a clear case of cheating. Custodial interrogation was deemed essential to trace where the funds were spent or invested. The builders had approached the court apprehending arrest by Vile Parle Police.
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