Mumbai Widow Reaches Settlement with Builders in ₹1 Crore Fraud Case
Court approves out-of-court settlement between widow and real estate developers accused of fraud
MumbaiReal EstateFraudSettlementBombay High CourtReal Estate MumbaiJul 06, 2024
According to the police report, Meena purchased a flat worth ₹97.1 lakh from Suchit Developers in 2005 but did not receive possession despite paying ₹1 crore. The case was initially classified as a civil dispute, but the Bombay High Court's intervention led to the registration of an FIR under the Maharashtra Protection of Interest of Depositors Act and sections 420 (cheating) and 409 (criminal breach of trust) of the Indian Penal Code on April 2, 2023.
The accused have agreed to pay more than ₹1 crore, and the complainant has agreed to quash the FIR and drop the civil suit against them. The accused have already handed over a substantial amount to Meena's son, Jai, in the form of demand drafts, and the balance is to be paid within 30 days from their release from jail.
As per the consent terms, the accused shall not default on the balance payment for any reason and shall not seek an extension of time. If the balance amount is not paid within 30 days from their release from jail, they shall surrender before the court, and their bail bond shall be automatically cancelled.
The settlement is seen as a relief for both parties, bringing an end to the long-drawn-out legal battle. The case highlights the importance of protecting the interests of depositors and the need for stricter regulations in the real estate sector.
Information
Suchit Developers is a real estate development company based in Mumbai, India. The company has been involved in various residential and commercial projects in the city.
The Bombay High Court is the high court of the state of Maharashtra, India. It has jurisdiction over the state of Maharashtra and is one of the oldest high courts in India.
Frequently Asked Questions
What was the amount involved in the fraud case?
The amount involved in the fraud case was ₹1 crore.
Who are the accused in the case?
The accused are Lachman Sajnani, Anil Sajnani, Dilip Manghnani, Anant Rane, and Vikrant Vaidya.
What was the nature of the dispute?
The dispute was related to a flat purchased by Meena Tawrani from Suchit Developers in 2005.
What was the role of the Bombay High Court in the case?
The Bombay High Court intervened in the case and directed the Mumbai police to take action against the investigating officer for not registering an FIR.
What are the terms of the settlement?
The accused have agreed to pay more than ₹1 crore, and the complainant has agreed to quash the FIR and drop the civil suit against them.
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