Mumbai: Diamond merchant cheated of Rs 5.37 cr in property deal; three booked


PTI, Jun 6, 2023, 5:04 PM IST

The Mumbai police have registered an offence against three persons, including the owner of a construction company, for allegedly cheating a diamond merchant of Rs 5.37 crore in a property deal, an official said on Tuesday.

The diamond merchant on Monday lodged a complaint with the Dadar police, following which an offence under sections 406 (criminal breach of trust) and 420 (cheating) of the Indian Penal Code was registered, he said.

According to the complainant, a fellow diamond merchant and his son, who also own a construction firm, had approached him in 2016 saying that they were building a housing and commercial project at Vakola in the western suburbs and they required funds of Rs 3 crore, the official said.

Against the sum, the accused promised to give the complainant floor space index (FSI) of 11,000 sq ft at Rs 5,000 per sq ft in the Vakola project and said they would draft an agreement for the same, he said.

The complainant initially gave the accused Rs 2 crore in cash and after a few days, paid Rs 12.5 lakh, the official said.

In February 2017, the accused persons again demanded money from the complainant, who transferred the same in installments, he said.

In all, the complainant shelled out Rs 5.37 crore over a period of one and half years in the property deal, but did not get what he was promised or get his money back, the official said, adding that no arrests have been made in this connection so far.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

SC mulls conducting tree census in Taj Trapezium Zone

Allu Arjun on ”Pushpa 2′ breaking language barrier: My time to make Telugu people proud on national scale

Udupi: MGM College imparts nectar of knowledge, says Sri Vidyasagara Teertha Swamiji

Bengaluru Police arrest man for murder of Assamese woman

World chess championship: Gukesh & Liren draw fourth game

Mangaluru’s Pilikula Nisargadham to get a facelift, says Minister Boseraju

Konkan Railway needs major replacements to ensure traffic safety, Railway Minister tells LS

Related Articles More

SC mulls conducting tree census in Taj Trapezium Zone

Konkan Railway needs major replacements to ensure traffic safety, Railway Minister tells LS

Tough decisions have to be taken, need to learn from poll results: Kharge at CWC meet

SIT begins probe into Tirupati laddu adulteration allegations

MSRTC bus overturns in Gondia district; 9 passengers killed, 25 injured

MUST WATCH

Grafting

Coconut Flower

Prakash Belawadi

Naxal Leader Vikram Gowda

Christmas Cake Fruit Mixing


Latest Additions

SC mulls conducting tree census in Taj Trapezium Zone

Allu Arjun on ”Pushpa 2′ breaking language barrier: My time to make Telugu people proud on national scale

Udupi: MGM College imparts nectar of knowledge, says Sri Vidyasagara Teertha Swamiji

Bengaluru Police arrest man for murder of Assamese woman

World chess championship: Gukesh & Liren draw fourth game

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.