MUMBAI: The Economic Offences Wing (EOW) of the Mumbai police has concluded a cheating case involving Rs 67.50 crore against Ramesh Govani, the owner of Kamala Mills.
The EOW submitted a ‘B’ summary report to the metropolitan magistrate court, indicating insufficient evidence to support the allegations by the complainant, Sujit Arora. Arora claimed that Govani acquired his land for redevelopment, promising Rs 20 crore along with commercial properties and flats valued at Rs 67.50 crore. However, Arora alleged that he received neither payment nor properties.
The case was filed on July 9, 2024, under IPC sections concerning cheating, forgery, and breach of trust. Govani, who is also a director at Amikrupa Land Developers Pvt Ltd, was arrested on July 10, 2024, and later released on bail a few weeks after his detention.
According to the allegations, Govani convinced Arora to sign a conveyance deed under the promise of compensation for the land. However, he registered the deed in July 2014 without fulfilling his payment obligations and claimed ownership of the property.
Arora further claimed that Govani assured him of 10 flats and one commercial unit in the redevelopment project, but seven flats were sold to third parties and two were mortgaged, leading to an alleged loss of Rs 67.50 crore. Arora filed a police complaint after Govani reportedly ignored multiple requests for payment.
Investigators reviewed documents, including witness statements, bank records, and a Deed of Cancellation dated March 29, 2017, which indicated the mutual cancellation of the agreement. They also examined an affidavit from Arora submitted to the Bombay High Court in April 2023.
Police noted that Arora did not disclose the cancellation deed when filing the FIR and provided incomplete information. Based on the evidence collected, investigators determined that there was no concrete or admissible evidence to prove criminal intent against Govani and others involved.
