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Mumbai police arrests SVK project LLP directors for defrauding flat buyers
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Mumbai police arrests SVK project LLP directors for defrauding flat buyers
Publish on : 2024-03-04 11:15:02
Manoj Champaklal Shah, 72, and Suresh Shroff, 65, directors of SVK project LLP, were arrested by the Economic Offences Wing's Unit 2 for defrauding 10 flat buyers of Rs 11.50 crores in a redevelopment project in Vile Parle. MUMBAI: A 72-year-old and his 65-year-old partners of a construction firm, who collected the bookings from various flat buyers in an upcoming redevelopment project in Vile Parle in 2014 and failed to complete the project and deliver the flats were arrested by the Mumbai police. The Economic Offences Wing (EOW)'s Unit 2 arrested Manoj Champaklal Shah, 72, and Suresh Shroff, 65, on charges of defrauding 10 flat buyers of Rs 11.50 crores on Wednesday. The police have charged them with cheating, document forgery, breach of trust, and violations of the Maharashtra Ownership Flats Act (MOFA). The police said that the accused, as directors of SVK project LLP, launched a residential redevelopment in Vile Parle West in 2014, and under the guise of this project, they secured bookings from numerous buyers. Investigations revealed that the builders had purportedly falsified documents, which they then presented to buyers as authentic. Further scrutiny by the BMC's building department showed that the builders had submitted a fraudulent Commencement Certificate (CC) for 10 floors, deceitfully claiming to have built a stilt plus five floors, despite only having permission for a stilt. Subsequently, the defrauded buyers filed complaints with RERA, BMC, and other authorities over multiple infractions. An officer reported that during an RERA hearing, it was discovered that the builders had provided fake CCs and other documents, missed the 2020 completion deadline, and yet collected substantial sums from buyers without finishing the project. Additionally, the Sun Vision society members, whose property was subject to redevelopment, filed an RERA complaint alleging the builders switched the project from the BMC to the SRA scheme without their input. Consequently, the 10 buyers claimed they were duped by the builders, who collectively took Rs 11.51 crores and failed to deliver the promised project.

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