The city crime branch on Friday arrested two directors of Mumbai-based Ahuja Constructions, 71-year-old builder Jagdish Bhagwandas Ahuja and his son Gautam Ahuja (42), following their conviction in a cheque-bouncing case in March 2021. Due to the pandemic situation then, there were no efforts made to send them to jail. They did not appeal their conviction.
The duo was picked up from near the Bombay high court on Friday afternoon.
Ahuja Constructions is known for its signature luxury projects in Central Mumbai and western suburbs.
The 14th Metropolitan Magistrate Court had convicted and sentenced them to simple imprisonment of six months each last March.
They were also directed to pay Rs 14.7 lakh to the complainant as compensation within 30 days, failing which they would have to undergo another three months of simple imprisonment. The complainant is a Breach Candy resident who had filed a case under Section 138 of the Negotiable Instrument Act against Ahuja Properties and Developers and its two directors, Jagdish and Gautam Ahuja.
In October 2015, the accused approached the complainant for a “friendly loan” of Rs 10 lakh with the condition that it would be repaid within 12 months along with an interest of 20.4%. Since the complainant was a family friend, he agreed to give the loan.
The complainant further submitted the accused made a payment of two quarterly interest on time. However, the cheque issued for the third quarterly payment of interest was dishonoured. This forced the complainant to file a complaint. He said towards the fourth quarterly interest, two cheques were also dishonoured with reasons “fund insufficient”, stated the conviction order.
Property market sources told TOI there are multiple cases filed against the construction firm and its directors in various courts for alleged cheque bouncing.
City police said the duo was also booked by the Pune police under the Maharashtra Protection of Interest of Depositors (MPID) Act. A Pune-based couple had accused them of defrauding them of Rs 2 crore.
