Recently, the Bombay High Court has rejected the bail application of all the three developers who have allegedly duped homebuyers. There is a steep rise in economic offences who affect the “ homeless persons” who have given their hard earned money to the developers to buy a house.
Santosh Pujari, Vijay Kendre and Vasant Patil, all the three accused were working for Sai Ekvira builders and developers and were booked for cheating. Sai Ekvira Builder and developers were required to construct apartments in the Kalyan area in Mumbai. Over 100 people have deposited their money with Sai Ekvira Builder and developers.
While adjudicating the matter, Justice A M Badar observed, “ the applicants have siphoned off the money systematically and have failed to perform their obligations. There was intention of cheating the buyers since the inception of the project. The apartments were not built by them by purchasing the land and mere show of starting construction was made.
The additional public prosecutor has filed objections against the bail application mentioning that several investors were involved in this financial scam to the tune of more than Rs. 1.5 crore. Similarly, the applicant has cheated public at large by establishing another firm known as, “ Aai Ekvira Builders and Developers” .
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