Mumbai Builder Accused of Forging Documents to Claim 71 Flats, Cheating Partners of ₹13.65 Crore

A builder-developer named Pratik Vira has been booked by the Mumbai Police for allegedly using forged documents to illegitimately claim 71 flats and office spaces in a Bhandup project. The fraudulent activity also involved cheating his business partners out of ₹13.65 crore, according to a police official who disclosed the details on Saturday.

The Fraudulent Scheme

The first information report (FIR) was filed against Pratik Vira after another real estate developer, Kashyap Mehta, lodged a complaint at the Azad Maidan police station. The complaint reveals that Vira allegedly manipulated the corporate insolvency resolution process (CIRP) to his advantage, focusing on the Samriddhi Garden Project undertaken by Sivana Realty.

Kashyap Mehta and his business partner Atul Bharani originally established the Sunshine Group in 2002. By 2006, the group had taken over a 3.75-acre land development project in Bhandup, operating under the subsidiary Sunshine Housing. Vira, the son of a chartered accountant named Jayesh Vira, joined the Sunshine Group in 2010 as a director of various companies within the group. His responsibilities included overseeing the accounting, finance, and marketing divisions.

The Dispute and the Alleged Forgery

Despite the initial success of the partnership, a dispute eventually arose among the partners. Various settlement options were explored, but the conflict escalated when Vira allegedly demanded specific flats and office units within the Samriddhi Garden Project. He sought these properties in exchange for the 20% shares held by his family in the Sunshine Group.

According to the FIR, Vira took over Sunshine Housing in December 2019, renaming it Sivana Realty. After assuming control, he allegedly allowed Sivana Realty Private Ltd (SRPL) to enter insolvency proceedings, despite the company's financial stability. The FIR claims that Vira falsely represented that SRPL had just ₹13 lakh in outstanding dues, whereas the company had sufficient funds and substantial inflow of multi-crore transactions.

Legal Action and Ongoing Investigations

The police have now initiated an investigation to uncover the full extent of the fraudulent activities. The investigation will likely focus on how Vira was able to manipulate the CIRP and forge documents to assert his claim over the 71 flats and office spaces. The police will also examine the financial records of both Sunshine Housing and Sivana Realty to identify discrepancies and further fraudulent actions.

This case highlights the ongoing issues of fraud and deception in the real estate sector, where large sums of money and valuable properties are at stake. The authorities are expected to take stringent action against those involved, ensuring that justice is served for the victims of this elaborate scam.

As investigations continue, this case serves as a stark reminder of the potential risks and complications involved in real estate partnerships. The Mumbai Police are under pressure to thoroughly investigate the matter and ensure that those responsible for the fraud are held accountable.

For now, the real estate community in Mumbai watches closely as this case unfolds, aware that its outcome could set significant legal precedents for future disputes in the industry.

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