in

Mahalaxmi Developers’ directors held in Rs 18 crore cheating case, Real Estate News, ET RealEstate

Mahalaxmi Developers' directors held in Rs 18 crore cheating case, Real Estate News, ET RealEstate
MUMBAI: The economic offences wing’s housing unit arrested Parag Thakkar (43) and his wife Shilpa (41), directors of Mahalaxmi Developers, for allegedly cheating flat buyers and investors of Rs 18 crore.

In 2013, the Thakkars launched Mahalaxmi Residency project in Karjat and accepted bookings from 142 people for 66 buildings.

But they failed to complete the project—only 18 buildings are ready—and allegedly transferred the money into their accounts.

Police have frozen 10-11 bank accounts of the couple and their firm.

Follow and connect with us on , Facebook, Linkedin


What do you think?

Written by Realty Beat

Leave a Reply

Your email address will not be published. Required fields are marked *

Oyo Hotels to file for $1.2 billion IPO next week: Source

Oyo Hotels to file for $1.2 billion IPO next week: Source

E-registration of first-sale properties likely from October 2, Real Estate News, ET RealEstate

E-registration of first-sale properties likely from October 2, Real Estate News, ET RealEstate