Mumbai-based builder arrested for cheating hundreds of flat buyers

The Economic Offences Wing of the Navi Mumbai Police has arrested the director of Style Realiance Construction Ltd and Real Buildcom Infrastructure, for allegedly duping hundreds of flat buyers

A builder, accused of duping hundreds of flat-buyers, has been arrested by the Economic Offences Wing (EOW) of the Navi Mumbai Police, an official said, on August 29, 2019. Anand Kadam (45) was arrested by the EOW from a rented flat in Thane’s Ghodbunder Road area, on August 28. He was produced before a court, which remanded him in police custody for 10 days, said senior inspector Shyam Shinde of the EOW.

Kadam was the director of two firms, Style Realiance Construction Ltd and Real Buildcom Infrastructure, he said. The firms announced several housing projects in Thane and Raigad district and allegedly collected booking amounts from hundreds of buyers for flats, bungalows and bungalow plots but none of the projects materialised. In June 2018, the Vashi police in Navi Mumbai registered four separate cases against Kadam under IPC sections 406 (criminal breach of trust) and 420 (cheating) and also under the Maharashtra Ownership Flats Act.

 

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