EOW probes cheating case against 2 realty firms

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The economic offences wing (EOW) of the Pune police have taken over the probe into a Rs 14.20-crore cheating complaint lodged by 24 homebuyers against two prominent real estate companies and their three directors in relation to a housing project in Kothrud.
The complainants have alleged that the realtors took money for the flats from them a decade ago and failed on the promise of delivery of the flats till date. The realtors had promised to deliver the flats in 2013, the complainants stated. The police have invoked Indian Penal Code and the Maharashtra Ownership of Flat Act (MOFA) provisions in the case.

A 67-year-old resident of Magarpatta Road in Hadapsar, along with 23 others, lodged an FIR with the Kothrud police on Thursday. Senior inspector of the Kothrud police Pratibha Joshi told TOI, “As the volume of the fraud is big and the assembly elections are round the corner, the case has been transferred to the economic offences wing for the further investigation,” Joshi said.

She said the 67-year-old resident had booked a 1,300sqft flat in the the project in 2010. The value of the flat was Rs 1.09 crore. The complainant had transferred Rs 79.17 lakh to the bank account numbers provided by the suspects, who had promised the possession of the flat in 2013. “Till date the complainant has not got possession of his flat,” Joshi said.
Along with the Hadapsar resident, there are 23 more people who have been allegedly duped by the realtors. “The total amount of fraud is over Rs 14.20 crore,” Joshi said.

Source: https://timesofindia.indiatimes.com