Mumbai firm dupes homebuyers, probe on

Mumbai firm dupes homebuyers, probe on
13/11/2017 , by , in News/Views

The city economic offences wing (EOW) is probing a case of cheating against the office bearers of a private firm which allegedly duped home buyers with promise to begin construction work in 15 months or return their money with 15% interest. Neither the work was started nor the money was repaid, said police.

Mandar Rane, who works as a manager in a mobile company, filed a police complaint at the Santacruz police station against the president, chief executive officer, director of a private Dahisar-based construction firm and others alleging cheating of Rs 1.29 crore. The case has later transferred to the EOW. The amount of cheating to many other victims may collectively go to a high number, indicated investigators.

Rane told police that he along with eight others had invested 20% of the flat cost in 2012 in a project. “The accused belonging to the realty firm promised to start work at the proposed site within 15 months. They said that if they couldn’t start the work, they will return flat buyers’ money with an interest of 15%. However, the work has not begun till date,” said a police officer.

He added that the accused, however, had returned some amount to the complainant. “We are in the process of collecting information about the money the complainant got back,” said an officer. The accused were to redevelop a Mhada building and had saleable areas too. “However, we learnt that even after five years, the building has neither been demolished nor any other construction work began at the site. We need to verify these information,” said the officer.

Senior police officials said that many more complaints have come to their office and number of victims is increasing every day. “We may register fresh cases against the firm’s office bearers,” added an officer.

News source: ETRealty

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