Mumbai Developer Arrested In ₹55 Crore Redevelopment Fraud; Court Extends Second Remand By 3 Days

Mumbai: The Economic Offences Wing (EOW) of Mumbai Police has arrested Amarjit Shukla, owner of Mid City Heights on 23 August, for allegedly cheating residents of a building undergoing redevelopment to the tune of Rs 55 crore.

Court Extends Custody By Three Days

Shukla was produced before the Esplanade Court on Friday (August 22) and has been remanded to EOW custody for three days. Today his Custody ended, So produced before Court for Second remand. The Court remanded him for 3 Days.

Residents Cheated Of Promised Homes

According to investigators, Mid City Heights was appointed to redevelop a residential building on Yari Road in Versova. The company had assured 13 residents, who collectively owned 14 flats, that they would receive their new homes within a specified time frame.

Fraud Discovered After Delays

However, before the project was completed, the builder allegedly sold several flats to third parties without the residents’ knowledge or consent, the complaint stated to EOW Police. When the promised homes were not delivered on time, the residents began probing the matter and discovered the alleged fraud.

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Mumbai Fraud: EOW Arrests Developer For ₹55 Crore Redevelopment Scam In Versova

Case Registered At Versova Police Station

Following their complaint, a case was registered at Versova Police Station for cheating and criminal breach of trust under the Indian Penal Code (IPC). The EOW later took over the probe, leading to Shukla’s arrest.