One more case is registered against Monarch Universal Builders in Kalamboli Police station in addition to the cases filed against them in Khandeshwar and Kharghar. This time the case is filed for allegedly cheating a Dubai businessman who booked around 17 flats in their project worth Rs. 4.55 crore.
The builders are in the custody of EOW for the Khandeshwar case, “after their remand is over, we will request for extension of their remand for the Kalamboli case.” said sr. Police Inspector Shivaji Awate from EOW-I.
Kunal Shevkarmani, the complainant, runs steel business in Dubai. Mr. Shevkarmani’s father and few other relatives visited the Monarch office in Navi Mumbai in 2011 and booked 4 flats worth Rs. 1.2 cr in Monarch Imperial Project, Kalamboli, Sec-17. After few months, Mr. Shevkarmani booked 10 more flats and paid around 80% of the cost that is Rs. 2.58 cr, paid in USD. After that, his relatives also booked in the same project and made payments for flats: uncle Vishnu Jethani paid an amount of Rs.10 lakh through RTGS, cousin Meeta Sadvani paid Rs. 31.6 lakh in 2012, and Nitesh Kriplani in 2013 paid Rs. 51 lakh.
“All the buyers were told that the flats will be registered and allocated to them a year after booking. Even after repeated reminders, the builders didn’t repay booking amount. So, Mr Shevkarmani approached Kalamboli police and registered the FIR,” Said police inspector Awate.
Police said that about 7 flats booked by Mr. Shevkarmani and his family were sold to other customers. Mr. Awate said that the methods used by such ‘builders’ are same: raise the investment to fund project, and when they are unable to repay to the investor in time, they give the flats that had been booked and paid, to the investors.
“This is cheating both the investors and the customers, We doubt that more than 1000 people have been cheated by Monarch group. We request everyone who has made investment in their projects to come forward and report it.” He added.
In April, an FIR was filed against Monarch’s partners, but they evaded the arrest for around 4 months. Finally, 2 of them, brothers Hasmukh Thakur (42) and Gopal Thakur (41), had been arrested by Economic Offence Wing (EOW) Unit I, in September; last week the 3rd partner, Roshan Seth (37) was also arrested.
They are accused of cheating a complainant who bought a shop from them in 2013 and paid Rs. 46 lakh but neither got the possession of the shop nor his money back.
Thakur brothers have also been arrested before, in October 2015, when in hiding after 2 such cases were registered against them in Kalamboli and CBD Belapur. A property investor had registered an FIR in April that year, against Monarch’s directors for cheating him of Rs. 7 cr which he paid for about 22 flats in Kalamboli and later found that they are mortgaged to a financial firm to whom Monarch owes a Rs. 40 cr loan. Another buyer who had paid Rs. 66 lakh in 2015 for a flat in Ulhasnagar, but neither got the flat nor a refund. The accused builders have been arrested under section 420 (cheating), 406 (criminal breach of trust) and 34 (common intention) of the IPC and Section 8 of Maharashtra Ownership Flat Act (MOFA).