Mumbai Real Estate CEO Booked for ₹13.65 Crore Fraud: A Case of Deception and Betrayal
Real estate developer and CEO Pratik Vira accused of forging documents and duping partner Khaysap Mehta of ₹13.65 crore. Find out how Vira allegedly produced fake documents to acquire 71 flats.
MumbaiReal EstateFraudPratik ViraSunshine Housing Pvt LtdReal Estate NewsAug 03, 2024
Khaysap Mehta, a 52-year-old resident of Worli, had entered into a partnership with Atual Bharani in 2002 to start Sunshine Group. The group took over a project in Bhandup in 2006, aiming to develop 3.75 acres of land under the flagship of Sunshine Housing Pvt Ltd. After obtaining all necessary permissions, the firm constructed 235 flats, which were handed over to home buyers in 2014-15.
However, in 2016, Mehta had a dispute with his business partner and Vira, which led to the matter being taken to the National Company Law Appellate Tribunal and the Supreme Court. In 2018, a mediator was appointed to resolve the issue. Vira allegedly drafted terms and conditions, which Mehta signed, promising him 51% of the company's shareholding. But, as it turns out, these documents were fake, and Vira had allegedly destroyed the original documents.
According to the FIR, Vira produced fake documents before the tribunal and high court to acquire 71 flats. This shocking case of deception and betrayal has left Mehta with a loss of ₹13.65 crore. The Azad Maidan police have booked Vira for his alleged role in the fraud.
The case highlights the need for stricter regulations in the real estate sector and the importance of thorough background checks on business partners. It also serves as a reminder for investors to be cautious and verify documents before making any investments.
Frequently Asked Questions
What is the name of the real estate company involved in the fraud case?
Sunshine Housing Pvt Ltd
Who is the CEO of Sunshine Housing Pvt Ltd accused of fraud?
Pratik Vira
How much money was allegedly duped from the business partner?
₹13.65 crore
What was the pretext under which the CEO allegedly duped his business partner?
Providing 71 flats in Bhandup
Which police station has booked the CEO for his alleged role in the fraud?
Azad Maidan police
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