Mumbai Real Estate Fraud: Co-Owner Arrested for ₹67.5 Crore Scam
The owner of Amikrupa Land Developers, a Mumbai-based real estate company, has been arrested for defrauding a businessman of ₹67.5 crore. Stay updated on this real estate fraud case in Mumbai!
Real EstateMumbaiFraudAmikrupa Land DevelopersEconomic Offences WingReal Estate MumbaiJul 09, 2024
According to the police, Gowani had bought a 2,204 square metre plot in Santacruz (West) from the complainant and promised to give ₹20 crore, 10-flats, and a shop in return. However, it was discovered that seven flats were sold to third parties, and two flats were mortgaged to a finance company, leaving the complainant with significant losses.
The EOW filed an FIR against Gowani and his wife, Nidharshana, for cheating and misappropriation of funds. Gowani will be produced in court on Wednesday. The arrest is a significant blow to the Mumbai real estate sector, which has been plagued by cases of fraud and misappropriation of funds.
The Mumbai police have been cracking down on real estate fraud cases in recent times. In a similar case, the Bandra police had filed an FIR against ex-employees of a real estate service company for stealing valuable client data, resulting in significant losses for the firm. The police have registered a case against the suspects, and an investigation is underway.
The real estate sector in Mumbai is a lucrative business, with many developers and investors vying for a share of the market. However, the sector has been marred by cases of fraud and misappropriation of funds, which has led to a loss of confidence among investors and buyers.
The arrest of Gowani and the subsequent investigation is expected to bring some relief to the Mumbai real estate sector, which has been plagued by cases of fraud and misappropriation of funds. The police have assured that they will take strict action against anyone found guilty of fraud or misappropriation of funds in the real estate sector.
Information
Amikrupa Land Developers is a Mumbai-based real estate company that has been involved in several real estate projects in the city. The company has a reputation for delivering high-quality projects, but the arrest of its co-owner has raised questions about its credibility.
The Economic Offences Wing (EOW) of the police is a specialized wing that deals with cases of economic fraud and misappropriation of funds. The EOW has been instrumental in cracking down on fraud cases in the real estate sector, and its efforts have led to the arrests of several high-profile developers and investors.
Frequently Asked Questions
Who is the owner of Amikrupa Land Developers?
Ramesh Gowani is the co-owner of Amikrupa Land Developers.
How much money was defrauded by Gowani?
Gowani allegedly defrauded a businessman of ₹67.5 crore.
What is the name of the police wing that arrested Gowani?
The Economic Offences Wing (EOW) of the police arrested Gowani.
What is the size of the plot bought by Gowani?
The plot is 2,204 square metres in size and is located in Santacruz (West).
What is the status of the investigation?
The investigation is underway, and Gowani will be produced in court on Wednesday.
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