Kalyan builder, partners booked for cheating Mazgaon resident of ₹12 cr
The Mumbai Police's Economic Offences Wing has registered a case against a well-known builder and three partners for allegedly cheating a businessman of ₹12.03 crore. The accused are directors of Shanklesha Constructions and have been booked for cheating, criminal breach of trust, and criminal conspiracy.
MUMBAI: The Economic Offences Wing (EOW) of the Mumbai Police has registered a case against a well-known builder from Kalyan and three of his partners for allegedly cheating a Mazgaon-based businessman of ₹12.03 crore. The accused include Manish Mutha, 40 – a well-known builder, whose family owns a jewellery store in Kalyan and is associated with a political party – and his partners Vijay Sharma, 35; Sharat Chhajed, 42; and, Bhushan Jain, 39. All the accused are reportedly directors of Shanklesha Constructions.
The case against the four accused was registered at the Byculla police station, based on a complaint by Yusuf Saifee, 52, a resident of Ghodapdeo in Mazgaon who is in the garments business.
According to the police, Saifee had invested ₹15 crore in Sai Nirvana, a 23-storey tower constructed by the builder in Kalyan’s Shahad neighbourhood, when the accused were looking for an investor. He was supposed to get 44 flats measuring a total of 40,000 square feet in lieu of the investment, at the rate of ₹3,750 per square feet. But the builder allotted only 10 flats to Saifee, and sold off the remaining 34 flats to others.
“When the complainant came to know about the cheating, he approached us, after which we registered a case,” said an EOW officer. The four accused have been booked under sections 429 (cheating), 406 (criminal breach of trust), and 120B (criminal conspiracy) of the Indian Penal Code.