Apus Realty accuses directors of Meta Archof Rs 13 crorecheating case
A city-based realty firm on Friday registered a cheating case worth more than Rs 13 crore against the managing director of a designing agency, over the development of an IT park at Hinjawadi.
Complainant Apus Realty approached Deccan Gymkhana police station against Milind Rode, who helms Meta Arch Private Limited, as well as other directors of the company.
As per the complaint, the accused did some interior designing work two decades ago for one of the top brass at Apus, who resides at the Sindh Society in Aundh. Rode allegedly promised he had the expertise to develop an ambitious project that was discussed — and it was decided that the two companies would ally to build Credas Towers.
For this, a loan of Rs 14.5 crore was taken from the Indian Bank at Prabhat Road. From this sum, the complainants paid Rs 13.1 crore to the accused to execute the project, from February 1, 2018, onwards.
A senior official at Apus Realty, who did not wish to be named, shared, “None of the milestones for the project were honoured. Some excavations were done, but there is no material at the site. Rode made us believe environmental clearance was not necessary for the project. Later, when we started making enquiries, we came to know that it was, in fact, required. In the meantime, we were told that all the money we gave has been spent. Over the last eight months, we have been asking for an account of the spending. When no answers were forthcoming, we approached cops.”
Cops booked the accused under Indian Penal Code sections 420 (cheating), 405 and 406 (criminal breach of trust), 467, 478 and 471 (forgery), 477a (falsification of accounts) and 120b (criminal conspiracy).