MUMBAI: A developer and an associate have been booked for allegedly swindling two investors out of ₹1.8 crore under the guise of allotting shops in a redevelopment project in Bandra, Mumbai, police reported on Thursday.
An FIR has been registered against Saurabh Bhuta, a director of Meeti Developer, and his associate Harsha Bhuta, following a complaint by Sandip Singh Chandok, a 55-year-old automobile businessman, as confirmed by an official from Khar police station.
According to police, Chandok invested ₹1.3 crore in the redevelopment project of New Kamalkunj Co-operative Housing Society in Bandra (West), while another investor, Manoj Kumar Anand, contributed ₹50 lakh.
Chandok first connected with Saurabh via a real estate agent in 2018, during which Saurabh allegedly promised him shop number 35, spanning 522 square feet, in the redevelopment project.
After completing the necessary paperwork, Saurabh provided Chandok with both an allotment letter and a booking letter, as per police reports.
Between 2018 and 2022, Chandok transferred approximately ₹1.3 crore to accounts designated by Saurabh.
Similarly, Saurabh promised Anand shop number 32 in the same project after receiving ₹50 lakh from him.
However, Saurabh failed to deliver the promised shops to either investor. When both sought refunds, he allegedly refused to return their money, prompting them to file a police complaint.
Based on the complaint and preliminary investigation, police registered a case under the Indian Penal Code on Wednesday, including charges of cheating, as the alleged crimes occurred before the implementation of the Bharatiya Nyaya Sanhita. The investigation is ongoing.
