The Economic Offences Wing (EOW) of the Mumbai Police has booked Mehul Thakur, Managing Director of Viva Group, in connection with an alleged cheating case involving ₹30 crore, following a complaint by the managing director of Poddar Housing and Development Limited, Rohitashwa Poddar. The FIR marks a renewed legal challenge for Thakur, who was previously arrested by the Enforcement Directorate (ED) in an unrelated money laundering case in 2021 and later granted bail in 2023.
The current case arises from a 2012 business arrangement in which Thakur allegedly approached Poddar with a proposal to jointly acquire and develop land in the Vasai-Virar region. As per the police complaint, Thakur claimed to have significant political influence in the area, citing his family’s background and strong local presence. He proposed forming a joint company that could use these connections to acquire land from farmers and execute large-scale housing projects.
Thakur introduced Poddar to a company called Apaar Infrastructure Private Limited, in which he was a director. Poddar eventually joined the firm, and the entity was renamed Poddar Vivo Housing Private Limited. The plan, as per police records, involved acquiring 75 acres of land, with Poddar Housing contributing ₹56 crore for the deal. An initial sum of ₹30 crore was reportedly transferred by Poddar to a joint bank account accessible by both parties.
Misappropriation of Funds
Poddar later discovered that the farmers from whom land was supposed to be purchased had not been paid. On confronting Thakur, he was informed that alternate land parcels were under consideration. However, a review of the joint account showed that the ₹30 crore had been transferred to another entity—Viva Holdings—allegedly controlled by Thakur’s family.
Poddar's complaint further states that when he demanded the return of the money, Thakur issued threats. The matter was brought to the attention of the Mumbai Police on June 23, after which the EOW initiated an investigation.
FIR Filed Against Multiple Parties
Following Poddar’s complaint, the EOW booked Mehul Thakur, his father Deepak Thakur, and two directors of his company—Vikas Varthak and Radhaye Khanolkar. The charges have been registered under various sections of the Bharatiya Nyaya Sanhita (BNS), including:
- Section 316 – Criminal breach of trust
- Section 318 – Cheating
- Section 336 – Forgery
- Section 338 – Forgery of valuable security
- Section 34 – Common intention and use of forged documents
The police have confirmed that the investigation is underway and efforts are being made to trace the funds.
Background of Parties Involved
Mehul Thakur is a known figure in the Mumbai real estate circuit and is also a relative of Hitendra Thakur, a former Member of the Legislative Assembly (MLA) from Vasai. The Viva Group has been involved in several real estate and infrastructure projects in the Vasai-Virar region over the past two decades.
Poddar Housing and Development Limited, on the other hand, is a listed company that has operated in affordable housing and urban residential development. The firm has had multiple projects across Mumbai and other cities.
In a brief statement, Deepak Thakur, father of Mehul Thakur, told media that he was unaware of the business dealings and that Mehul independently manages the company’s operations.
Legal and Financial Repercussions
Legal experts suggest that the case could have significant ramifications for the accused and the companies involved. If the allegations of forgery and criminal breach of trust are proven, it could lead to serious penal consequences, including imprisonment. Financial institutions and partners involved in current or past transactions with the accused companies may also revisit their risk exposure.
The case also comes at a time when regulatory authorities have been tightening oversight on real estate transactions, especially in the Mumbai Metropolitan Region (MMR), where land deals often involve complex ownership structures and political affiliations.
As of now, no arrests have been made in connection with the FIR. The EOW is currently examining bank records, company filings, and communication between the parties. The police have not ruled out the possibility of more people being named during the course of the investigation.
The matter is expected to gain further traction as investigators proceed with evidence gathering and witness examination. Poddar Housing has so far not commented publicly beyond confirming the filing of the complaint.
