MUMBAI: The Economic Offences Wing of the city police has arrested a developer from Kolhapur for allegedly colluding with others to mortgage and sell flats in a redevelopment project in Versova, Andheri. This was done without the consent of the society members, using forged documents, resulting in a loss of Rs 55 crores.
The arrested individual, Amrut Uttam Mahendrakar (34) from Ichalkaranji, is accused of aiding in the creation of forged documents and facilitating the illegal sale and mortgage of flats. He is the second suspect arrested in this case, following the capture of Amarjit Shukla, owner of Mid City Heights, last August.
The case initiated from a complaint by Meena Singh Thilon (71), a member of the Zakaria Aghadi Nagar No.3 Co-operative Housing Society, which had engaged Midcity Heights Partnership Firm for redevelopment in 2015. The firm had promised 13 residents with new homes within a specified period.
However, as the project progressed, complaints arose among the members who discovered that several flats provided under the Permanent Alternate Accommodation Agreement (PAAA) had been mortgaged to financial institutions and sold to third parties without their approval.
Investigations uncovered that Shukla and his associates allegedly forged documents and agreements, pledging flats to multiple banks and acquiring loans worth crores. Authorities suspect the use of counterfeit signatures and stamps throughout the documentation process.
