MUMBAI: Neeraj Vora, Director of Aiko Builders Pvt Ltd, has been accused of cheating a construction businessman from Vasai out of crores in a real estate transaction involving land in Mira Road.
The Manikpur police filed an FIR against Vora for charges including cheating and forgery. Complainant Akash Gupta claims that in 2021, Vora solicited funds for the development of a 2-acre, 25.75-guntha property at Mira Road, assuring him of 100,000 sq ft at Rs 2,970 per sq ft. Vora allegedly claimed ownership and indicated that a total investment of Rs 30 crore was necessary.
An MoU was signed on September 15, 2021, and between September 21 and 29, Gupta transferred Rs 2.75 crore to Vora in several RTGS transactions. Gupta states that by September 30, Vora provided written acknowledgments, receipts, and other documents confirming the funds, along with 26 cheques totaling about Rs 31 crore as security.
In January 2022, Vora reportedly informed Gupta of a joint development agreement with another builder for the same land but assured him that the 100,000 sq ft would still be allocated to him. Despite Gupta’s persistent inquiries, work on the development never commenced, and the promised land was never delivered.
On January 15, 2023, a new agreement was drafted, in which Vora committed to either fulfilling the land allotment as promised or repurchasing it at the enhanced rate of Rs 5,841 per sq ft, totaling Rs 31.46 crore owed to Gupta. However, Gupta claims he only received Rs 1.30 crore, with Rs 30.16 crore still pending. He also accused Vora of transferring or selling the same land parcel to others while holding onto the money he paid.
Believing that his funds were misappropriated and that Vora made his assurances in bad faith, Gupta approached the Manikpur police to file a formal complaint. Authorities have confirmed that the FIR is active, and an investigation is currently underway to scrutinize bank transactions, agreements, land records, and the involvement of Aiko Builders Pvt Ltd.
