Developers Arrested for Defrauding 78 Buyers in Failed Mumbai Real Estate Project
Mumbai: Ramesh Shah and his son Rahul Shah, developers of Radius Sumer Developers, have been arrested for cheating 78 flat buyers out of Rs 35.7 crore in a failed housing project in Mazagaon.
Real EstateDevelopersFraudMumbaiRadius Sumer DevelopersReal Estate MumbaiMay 16, 2025
Frequently Asked Questions
What is the Harbor Heights project? A: The Harbor Heights project is a housing project in Mazagaon, Mumbai, that was promoted as a lucrative investment opportunity for NRIs. However, the project failed to develop as promised, leading to the arrest of the developers. Q: Who are the primary complainants in this case? A: The primary complainants are Mahesh Mirani and his non-resident Hong Kong-based brother, Purushottam Mirani. They accused the developers of defrauding them out of Rs 35.7 crore. Q: What charges are the developers facing? A: The developers, Ramesh Shah and Rahul Shah, are facing charges of cheating under Section 420 of the IPC and under the Maharashtra Protection of Interest of Depositors (MPID) Act. Q: How much money was involved in the fraud? A: The total amount of money involved in the fraud is Rs 35.7 crore, which was invested by 78 flat buyers in the failed Harbor Heights project. Q: What is the current status of the legal proceedings? A: The developers have been arrested and produced before the special MPID court, which remanded them to police custody. The police are continuing their investigation to recover the funds and bring justice to the affected investors.
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