ADVERTISEMENT

Developer Arrested for Duping Mumbai Tenants of Rs 100 Crore

He had tricked the tenants off Rs 100 crore by refusing to pay rent to the tenants and mortgaging the building

Published
India
2 min read
Developer Arrested for Duping Mumbai Tenants of Rs 100 Crore
i

The Quint DAILY

For impactful stories you just can’t miss

By subscribing you agree to our Privacy Policy

The Economic Offences Wing of the Mumbai Police on Tuesday arrested a Mumbai-based developer, for duping 21 tenants of a Wadala building off Rs 100 crore, on the pretext of redevelopment.

According to the Hindustan Times, Shirish Dixit, who had promised the tenants of the building that he would complete the redevelopment process in 36 months, had failed to complete the same in the past eight years.

The report adds that he had tricked the tenants off Rs 100 crore by refusing to pay rent to the tenants and mortgaging the building.

ADVERTISEMENT

The arrest came soon after a Sunil Kishan Soi filed an official complaint with the Mumbai police which stated that several years ago, Dixit had signed an assignment with the original owner of the building, and on that basis, he later told the 21 tenants he was now the new owner of the building and would not allow any other developer to work on it, the report adds.

According to Soi’s complaint, he had also promised the tenants bigger flats and shops, rent and several amenities, as long as they agreed to view him as the official developer of their property. 

The report adds that he had told them they would have relocate for a little while, just until the redevelopment process was completed.

However, once they shifted to an alternate accommodation, Dixit did not indicate any signs of completing the alleged work on the building and had in fact, stopped them from receiving rent.

ADVERTISEMENT

The tenants, as reported in the Hindustan Times, had not received rent since 2012. In fact, it added that they later learned that Dixit had, without informing them, mortgaged the building to Dhiren Patel of the Sangoi Group.

Dixit had reportedly taken a loan of over Rs 10 crore from Patel, and when he failed to pay it back, Patel had filed a suit against him and demanded Rs 27 crore.

Dixit was then made to transfer ownership rights of the building to Patel. Some of his properties too, were auctioned by the Bombay High Court in an attempt to complete the redevelopment process, the report adds.

(With inputs from Hindustan Times)

(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)

Read and Breaking News at the Quint, browse for more from news and india

Topics:  Mumbai   Bombay High Court   Patel 

ADVERTISEMENT
Speaking truth to power requires allies like you.
Become a Member
22

25 10% off

90

100 10% off

180

200 10% off

or more

PREMIUM

3 months
12 months
12 months
Check Member Benefits
Read More
ADVERTISEMENT
Stay Updated

Subscribe To Our Daily Newsletter And Get News Delivered Straight To Your Inbox.

Join over 120,000 subscribers!
ADVERTISEMENT
More News
×
×