Online: Developer firm booked for cheating

The Ghatkopar police have booked four partners of a realty firm, Punjalal G Dave Realtors LLP, after a 63-year-old Ghatkopar resident lodged a complaint of cheating. The resident alleged that the developer induced him to invest in a redevelopment project in 2011, failed to return his investment and profit, and cheated him of Rs. 3.91 crore. Maulik Dave, one of the directors of Dave Realtors, has refuted all the allegations levelled in the FIR and said that instead, the complainant, Sanjay Dhawan, has to pay them a huge amount.

Dhawan, in the FIR, has alleged that his late father, Janakraj, was close friends with Harshadbhai Dave, the former owner of the firm, and Janakraj had invested Rs. 5.5 crore in the company.

In 2005, Kalpesh Seth, a director at Seth Builders and a committee member of Jai Arihant Housing Society, Ghatkopar, approached Janakraj with a proposal to invest in the society's redevelopment. Between 2008 and 2010, they paid Seth a total of Rs. 82.63 lakh. However, the project was stalled in 2011, and the power of attorney was transferred to Sanjay. The society later decided to transfer the incomplete project to Punjalal Dave’s firm, and Dhawan provided a no-objection certificate for the same, states the FIR.

Dhawan alleged that as per the agreement between him and the company, he was to receive two shops in the completed project and Rs. 1.5 crore. However, Dhawan alleged that neither of these commitments was fulfilled. In April 2011, an agreement was signed between the realty firm, Jaysinh, Janakraj and Sons LLP, and Dhawan, his son, and sister, stating that Aspria Constructions LLP would complete the redevelopment project. Between April and December 2013, Dave returned Rs. 3.29 crore of the Rs. 3.50 crore invested by the Dhawans in the project.

However, Dhawan, in his complaint, alleged that the Daves later convinced him to invest further in two projects—Chandani CHS in Ghatkopar and Arihant Siddhi Apartment in Borivali, promising him 25% of the saleable area. From 2013 to 2015, Dhawan allegedly paid Rs. 3.91 crore via cheque, but these funds were never deposited in Aspria Constructions but in their personal accounts. Dhawan alleged that when he asked for his investment, the Dave group refused to entertain him. Dhawan claimed that despite repeated requests and warnings, the money was not refunded, and his family received threats instead.

Speaking to TOI, Maulik Dave said, "The entire FIR is bogus. We have filed a civil suit against him. Pending that, how can an FIR be lodged? We will be taking all legal remedies to quash the FIR. Dhawan, using his lies, has managed to lodge an FIR. He has to pay our company Rs. 34 crores."

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