Mumbai Police’s Economic Offences Wing (EOW) has arrested developers Dharmesh Jain and Rajiv Jain of Nirmal Lifestyle for allegedly duping 34 home buyers by not handing over flats after taking money, officials said on Thursday.
The duo were accused of cheating buyers who had purchased flats in three projects — Olympia, Panorama and Spirit — of more than Rs 11 crore.
After the arrest both were produced before a court which sent them in police custody till May 3.
The accused allegedly took money against bookings in 2011, promising that flats will be handed over in 2017.
But the buyers allegedly did not get possession of the flats, a police official said. Initially, a complaint was lodged at Mulund police station. It was later transferred to the EOW for investigation, he said.