Mumbai Real Estate Developer and CEO Embroiled in ₹13.65 Crore Fraud Case
A Mumbai-based real estate developer and CEO have been booked for allegedly forging documents and duping a partner of ₹13.65 crore in a Bhandup land deal.
Real Estate FraudMumbaiBhandupSunshine GroupNational Company Law Appellate TribunalReal EstateAug 03, 2024
According to the FIR filed by the police, the complainant, Khaysap Mehta, a 52-year-old resident of Worli, had entered into a partnership with Atual Bharani to form the Sunshine Group in 2002. The group took over a project in Bhandup in 2006, deciding to develop 3.75 acres of land under the flagship of a sub-company, Sunshine Housing Pvt Ltd.
As per the complaint, the firm received all necessary permissions prior to construction. In 2010, Pratik Vira was appointed as the CEO, and home buyers were given possession of 235 flats in 2014-15.
However, in 2016, Mehta had a dispute with his business partner and the CEO. The matter went to the National Company Law Appellate Tribunal and the Supreme Court, which appointed a mediator in 2018.
To resolve the matter quickly, Vira allegedly drafted terms and conditions, which Mehta signed. Mehta was promised 51% of company shareholding, but the documents were allegedly fake. Mehta claimed that Vira destroyed the original documents.
According to the FIR, Vira allegedly produced fake documents before the tribunal and high court to acquire 71 flats.
Information The Sunshine Group, founded in 2002, is a Mumbai-based real estate development company. Atual Bharani is the founder and partner, while Pratik Vira was appointed as the CEO in 2010.
Sunshine Housing Pvt Ltd is a subsidiary of the Sunshine Group, focused on developing residential projects in Mumbai. The company has completed several projects in the city, including the Bhandup project mentioned in the FIR.
The National Company Law Appellate Tribunal (NCLAT) is a quasi-judicial body that hears appeals against orders passed by the National Company Law Tribunal (NCLT). The Supreme Court of India is the highest judicial authority in the country, hearing appeals against orders passed by the high courts.
Frequently Asked Questions
What is the alleged amount of fraud in the case?
The alleged amount of fraud is ₹13.65 crore.
Who are the accused in the case?
The accused are Atual Bharani, the founder and partner of the Sunshine Group, and Pratik Vira, the CEO of the company.
What is the name of the company involved in the case?
The company involved is the Sunshine Group, a Mumbai-based real estate development company.
What is the status of the case?
The case is currently being investigated by the Azad Maidan police, and a FIR has been filed against the accused.
Who is the complainant in the case?
The complainant is Khaysap Mehta, a 52-year-old resident of Worli and partner of the Sunshine Group.
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