In his complaint, Shadab said the father-son duo approached his father Shabbir in 2014, seeking a financial aid of Rs 50 lakh and agreed to keep their flat at Kamal Vishranti at TPS 3 in Bandra as security with an additional interest of 21% as profit on the borrowed sum.
Shadab, however, got suspicious when they failed to repay the promised amount and asked the Narangs to transfer the flat kept as security in his name. But the duo said that the title of the flat was not clear and hence it cannot be transferred. Later, Shadab learnt that the flat too was already mortgaged with Tata Finance. He then approached the police.
Speaking to TOI, Amit Narang said, “Shadab has managed to lodge a false case against us and we are challenging the said FIR in the court.”