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The constabulary person booked Prakshal Vanavat, Ranvijay Singh, and Rahul Jain connected the ailment of Krishna Gaud, 44, a nonmigratory of Malad (West).
The Malad Police booked 3 directors of a operation steadfast connected Tuesday for allegedly duping 19 radical to the tune of Rs 12.50 crore. The accused availed a indebtedness from the slope successful the sanction of 19 level buyers nether the pretext of constructing flats for them; however, alternatively of utilising the wealth to implicit the project, misused it for idiosyncratic gain.
The constabulary person booked Prakshal Vanavat, Ranvijay Singh, and Rahul Jain connected the ailment of Krishna Gaud, 44, a nonmigratory of Malad (West).
According to the police, successful October 2016, Vanavat, who was moving for Rishabraj Tufcons City Homes Private Limited entered into a merchantability statement with 19 members of Malad Jai Amrit Housing Society and accepted wealth from them to conception flats.
Vanavat allegedly conspired with Singh and Jain and availed of a indebtedness worthy Rs 12.50 crore from Reliance Home Finance. “While taking loans, the 3 entered into an statement with the concern institution connected November 21, 2017 and showed 19 members of the lodging nine arsenic loanees,” states the constabulary complaint.
The 3 accused aboriginal defaulted successful repaying the indebtedness to the concern institution and misused the indebtedness wealth for idiosyncratic self-gain, breached the lodging nine members’ trust, and defrauded them, the complainant alleged successful the FIR.
After repeatedly pursuing up with the accused builders till May 2024, the lodging nine members yet approached the constabulary and filed a complaint.
The Malad constabulary connected Tuesday booked the trio nether sections 406 (criminal breach of trust), 420 (cheating), and 34 (common intention) of the Indian Penal Code.
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First uploaded on: 02-10-2024 astatine 23:01 IST
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