AHMEDABAD: Two separate complaints have been filed at the Bopal police station accusing developers associated with the Privilon Group of defrauding investors by promoting housing and commercial projects on land they allegedly do not own and without the necessary regulatory approvals. Police indicate that these complaints, along with other reports from investors, suggest a fraud amounting to approximately Rs 2.22 crore involving flats and shops in proposed developments in Ghuma village, located on the city’s outskirts.
The first FIR was lodged by Shanti Jadav, 49, a farmer from Gujar village in Dhandhuka taluka. Jadav claims he was misled into investing in a ground-floor shop in the proposed ‘Richmond by 22 Storey’ project at Survey number 632/A in Ghuma in November 2023. He stated that Jaydeep Kotak and Hiren Amrutlal Karia misrepresented themselves as partners of Privilon Buildcon LLP and offered him shop GF-06 at a compelling price. Jadav transferred Rs 15 lakh via cheque and paid an additional Rs 6 lakh in cash as a booking fee.
Jadav reported that despite numerous assurances regarding RERA approval and construction timelines, the project never commenced. Allegedly, the site office and project boards were removed in December 2024. He later discovered that the accused did not own the land and lacked any written development agreement or RERA permission. Furthermore, he alleged that the same accused collected funds from multiple investors via cheques, RTGS, UPI, and cash, providing falsified receipts for cash payments.
The second FIR was filed by Jayjit Gatha, 34, a South Bopal resident, who claimed he and his wife invested in a 2BHK flat in the proposed ‘Celestial by 14 Storey’ project at survey numbers 816 and 817 in Ghuma village in early 2024. The complainant stated he paid Rs 27.6 lakh via two cheques to Privilon Buildcon LLP after being shown brochures and documentation stating ownership and development rights.
The FIR notes that the accused executed a notarized MoU asserting complete rights to sell the flats and shops. However, no construction was initiated, and subsequent boards displayed had the branding of another developer. Verification with the landowners revealed no agreements had been made with the accused and that RERA approval was absent.
Police confirmed that the two FIRs described a well-planned conspiracy marked by false representations, forged MoUs, misleading advertisements, and misappropriation of investor funds. An investigation is underway to trace the financial trail, identify additional victims, and establish the roles of the individuals and entities mentioned in the complaints.
