2 brothers held for cheating 115 flat-buyers of Rs40cr

Mumbai: The city economic offences wing (EOW) last week arrested two brothers, Saleem Maap Khan and Hameed Maap Khan, in a Rs 40 crore housing cheating case. They have been accused of not giving 115 buyers flats on time, showing a forged commencement certificate and executing registered agreement, said police.
The Charkop police filed an FIR on August 29 after Ashok Jain, a Goregaon businessman, complained and the case was transferred to the EOW.Ambe Sanghe had filed a petition in court this year raising a similar issue. “The brothers are directors of M S Shah Developers Pvt Ltd with their office at Marol, Andheri. They promised to construct a 22-storey Olive Tower in Kandivli (W) on an approximately 20,000 sq ft plot,” an EOW officer said. Saleem had been associated with a political party.
Police said the buyers were in 2009 promised possession within three years. “Twelve storeys have been built and then work stopped in 2012. The developers have permission for less height. The brothers said they had internal disputes. They told us they had approached BMC, paid fees, besides fulfilling formalities and are expecting permission for the other floors,” the officer added.
The buyers’ money went to the company’s account, which has been frozen by the EOW police. More than 15 flat buyers have approached police, complaining about not getting possession. “The accused, while selling the flats, had shown a CC to the flat buyers, which stated permission for up to 16 floors was granted. We have booked the duo for cheating and forgery under the Indian Penal Code and invoked sections of the Maharashtra Ownership Flats’ Act (MOFA). Police said they will produce the duo before court on Monday and seek further remand.