Rs 23 Crore Cheating Case Against Real Estate Firm Directors in Mumbai
Mumbai: The police have registered a Rs 23 crore cheating case against Kamala Mills owner Ramesh Govani and directors of Shivam Parivar Developers Pvt Ltd over complaints by two companies.
Real EstateFraudCheatingMumbaiInvestmentReal Estate MumbaiFeb 05, 2025
The FIR includes directors Ajit Bhosle, Pramod Bhosle, and Sanjay Bhosle as the accused.
This action was taken on the order of the magistrate court in Dadar, following a complaint by Vyoman Infrawest Pvt Ltd and Vyoman India Pvt Ltd.
The complainants allege that in 2013, Ramesh Govani and the directors of Shivam Parivar Developers misled them into investing in a redevelopment project at Parmar Guruji Marg, Parel.
They were promised high returns and prime space in the upcoming construction at a concessional rate.
The project was supposed to be completed within three to four years.
However, by 2018, when the complainants requested investment-related documents, Govani and his associates allegedly failed to provide them.
Despite the project deadline being extended by the BMC to December 2021, there was no visible progress on the development.
Realizing they had been deceived, the complainants lodged a complaint with the police.
Initially, the police refused to take cognizance, leading the complainants to file a private complaint in December 2024.
Shivam Parivar Developers Pvt Ltd is a prominent real estate firm known for various redevelopment projects in Mumbai.
However, this case has raised serious questions about the ethical practices and transparency in the real estate sector.
The companies involved, Vyoman Infrawest Pvt Ltd and Vyoman India Pvt Ltd, are reputable entities with significant investments in various infrastructure and development projects.
The police are currently investigating the claims and gathering evidence to build a strong case against the accused.
The magnitude of the case, involving a substantial amount of Rs 23 crore, highlights the need for stringent regulations and oversight in the real estate sector to protect investors and maintain trust in the industry.
For the complainants, this legal battle represents a fight for justice and the recovery of their investments.
The outcome of this case could set a precedent for how similar instances of fraud are handled in the future, providing a deterrent to potential wrongdoers in the real estate market.
In the meantime, concerned investors and stakeholders are closely following the developments, hoping for a fair and just resolution.
The real estate community in Mumbai is also on high alert, as this case has raised concerns about the reliability and integrity of various projects in the city.
As the investigation unfolds, it remains to be seen how the legal proceedings will progress.
The complainants are determined to hold the accused accountable, while the accused maintain their innocence and await the due process of law.
Frequently Asked Questions
Who has been accused in the Rs 23 crore cheating case?
Kamala Mills owner Ramesh Govani and directors of Shivam Parivar Developers Pvt Ltd, namely Ajit Bhosle, Pramod Bhosle, and Sanjay Bhosle, have been accused in the case.
What is the nature of the complaint filed against the accused?
The complainants, Vyoman Infrawest Pvt Ltd and Vyoman India Pvt Ltd, alleged that they were misled into investing in a redevelopment project at Parmar Guruji Marg, Parel, with promises of high returns and prime space.
When was the FIR registered?
The FIR was registered on the order of the magistrate court in Dadar, following a private complaint filed in December 2024.
What was the reason for the police initially refusing to take cognizance of the complaint?
The police initially refused to take cognizance of the complaint, which led the complainants to file a private complaint in December 2024.
What is the significance of this case for the real estate sector?
This case highlights the need for stringent regulations and oversight in the real estate sector to protect investors and maintain trust in the industry. The outcome of the case could set a precedent for how similar instances of fraud are handled in the future.
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