Mumbai: Builder of Kandivli Slum Redevelopment Scheme project accused of cheating by counterpart

Director of Unique Keemaya Home says partners of Sai Astha developers refusing to refund the money he invested in the project after they shelved the joint venture

Even before the Slum Redevelopment Scheme (SRA) Enso Sanza in Kandivli takes off, the project appears to be mired in controversy. The Amboli police have registered a case of cheating against Dhanpat Seth and Shakrendra Seth, partners of Sai Aastha developers, who are undertaking the SRA project at Akurli Road, Hanuman Nagar, Kandivli East.

Prabansh Bansal, one of the directors of Unique Keemaya Home Pvt Ltd, has alleged that Seth cheated their real estate firm in connection with the Kandivli SRA project. The FIR was filed on February 23.

Bansal, in his statement to the police, claimed that Seth approached them to become a partner and fund the SRA project. On October 7, 2016, the term sheet for it was prepared and signed. “On an investment of R5 crore, Seths’ offered a profit and loss partnership in the project. Between October 2016 and January 2017, Bansal paid R1.03 crore,” the statement mentioned.

However, claiming later that the project is not getting road access, Seth approached Bansal to cancel the term sheet. A few years later, after realising that Seth has entered into a joint venture with another person for the same project, Bansal called up Seth for a refund of the investment along with interest, as promised.

Asked why the FIR was lodged in 2021, in a nearly three-year-old dispute, Bansal told mid-day, “We were under the belief that as and when real estate market improves, the Seths would return our money.

But, that wasn’t the case. Whenever we made calls asking for our money, there was an unsatisfactory response. Many calls went unanswered. We felt cheated and lodged an FIR with the police.” mid-day tried to contact the Seths but till the time of going to press, they did not respond to messages and calls made.  An officer from Amboli police station confirmed the FIR.

5 cr
Amount Sai Astha developers asked Unique Keemaya Home Pvt Ltd to invest

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