Bombay High Court Denies Anticipatory Bail to Afzal Iqbal Kapadia in Rs 57 Lakh Real Estate Fraud Case
The Bombay High Court has denied anticipatory bail to businessman Afzal Iqbal Kapadia, while granting it to his wife, Nabila Afzal Kapadia. The case involves a fraudulent real estate transaction in Heera Panna, Haji Ali, where the Kapadias are accused of
Bombay High CourtReal Estate FraudAnticipatory BailAfzal Iqbal KapadiaNisar Mohammad Ali JohariReal Estate MumbaiJan 19, 2025
57 lakhs.
However, the court granted bail to his wife, Nabila Afzal Kapadia, who is a co-accused in the same case.
The case originates from an alleged fraudulent real estate transaction involving the purchase of a shop located in Heera Panna, Haji Ali.
The complainant, Mr.
Nisar Mohammad Ali Johari, claims he was defrauded by the Kapadias after he paid Rs.
57 lakhs for the shop, which was initially priced at Rs.
2.82 crore.
According to Mr.
Johari, despite making the payment, Mr.
Kapadia failed to execute a formal Memorandum of Understanding (MOU) as agreed.
Instead, Mr.
Johari discovered that the property had been unlawfully sold to another person for Rs.
3.28 crore, despite an existing valid contract that had not been terminated.
Furthermore, without refunding the monies owed to the complainant, Mr.
Nisar Johari, Mr.
Afzal Kapadia resold the shop to another person, thereby unlawfully gaining an additional sum of Rs.
46,000.
Upon Mr.
Johari’s attempts to contact Mr.
Kapadia for clarification and to recover his outstanding payment, the accused failed to provide any response.
Advocate Firoz Usman, representing Mr.
Johari in the Bombay High Court, expressed his satisfaction with the court's decision.
He stated, “I am grateful on behalf of my client to Hon’ble Justice N.J.
Jamadar, who presided in Court Room No.
03 of the Bombay High Court.
The judge appreciated all my arguments, which were substantiated with facts, cogent evidence, and legal representation.
The opponent attempted to misrepresent the facts and tried to distort them with baseless submissions.”
The Hon’ble Judge, Justice Shri Jamadar, after hearing the arguments from the accused/prosecutor (representing Agripada Police Station) and Advocate Mr.
Firoz Usman (representing the complainant/intervener) Mr.
Nisar Johari, passed an order rejecting the anticipatory bail application of Mr.
Afzal Iqbal Kapadia and allowing the anticipatory bail application of Mrs.
Nabila Afzal Kapadia.
It is pertinent to note that the FIR was filed against the Kapadias on September 6, 2023, under sections 420, 406, 506, and 34 of the Indian Penal Code for cheating, criminal breach of trust, and fraud, based on Mr.
Johari’s complaint.
The investigation in the present matter is ongoing at Agripada Police Station.
Advocate Mr.
Firoz Usman and the complainant, Mr.
Nisar Johari, now await the action of Agripada Police.
Frequently Asked Questions
What is the main accusation against Afzal Iqbal Kapadia?
Afzal Iqbal Kapadia is accused of defrauding Mr. Nisar Mohammad Ali Johari of Rs. 57 lakhs through a fraudulent real estate transaction involving the purchase of a shop in Heera Panna, Haji Ali.
Why was the anticipatory bail application of Afzal Iqbal Kapadia rejected?
The Bombay High Court rejected the anticipatory bail application of Afzal Iqbal Kapadia due to the seriousness of the fraudulent allegations and the court's appreciation of the complainant's arguments and evidence.
What sections of the Indian Penal Code are the Kapadias charged under?
The Kapadias are charged under sections 420, 406, 506, and 34 of the Indian Penal Code for cheating, criminal breach of trust, and fraud.
When was the FIR filed against the Kapadias?
The FIR was filed against the Kapadias on September 6, 2023, based on Mr. Nisar Mohammad Ali Johari’s complaint.
What is the current status of the investigation?
The investigation in the present matter is ongoing at Agripada Police Station, and Advocate Mr. Firoz Usman and the complainant, Mr. Nisar Johari, await further action from the police.
Tags:
Related News Articles
Mt K Kapital Secures Over ₹500 Crore to Fuel Realty Projects in Mumbai Metropolitan Region
Mt K Kapital has raised over ₹500 crore for its maiden fund to invest in real estate projects in the Mumbai Metropolitan Region (MMR), with a focus on redevelopment and quick turnaround residential projects.
Hyundai Brings Hope to Maharashtra with Project H2OPE
Hyundai Motor India Foundation launches Project H2OPE in Gadchiroli, Maharashtra to address water scarcity issues
Mahindra Lifespace Targets Rs 1200 Crore Revenue from Two Housing Redevelopment Projects in Mumbai
Mahindra Lifespace, a leading real estate developer, is eyeing a significant revenue boost from two major housing redevelopment projects in Mumbai. The company aims to generate Rs 1200 crore from these ventures, marking a strategic move in the Mumbai real estate market.
Kalpataru Partners with Two Housing Societies for Mumbai Redevelopment Projects
Real estate developer Kalpataru Projects has signed redevelopment agreements with two housing societies in Mumbai, marking a significant milestone in the company's expansion strategy. The projects are expected to bring modern and sustainable living spaces
Supreme Court Orders SEBI to Review Proposals for Sahara’s Prime Mumbai Plot
The Supreme Court has directed the Securities and Exchange Board of India (SEBI) to review the proposals submitted by Oberoi Realty and Valor Estate for the acquisition of Sahara’s prime 106-acre plot in Mumbai. This move comes after a prolonged legal bat
How Technology is Revolutionizing High-Rise Construction in India
India’s real estate sector is undergoing a significant technological transformation, particularly in the construction of high-rise buildings. This shift is crucial for supporting the nation’s ambitious goal of achieving net zero emissions by 2070. With th