Real Estate Firm Booked For ₹100 Cr Housing Fraud In Mumbai

2025-11-06 05:03:20

(MENAFN- Kashmir Observer)
Representational Photo

Mumbai- Police have registered a case against a real estate developer and others for allegedly defrauding homebuyers of Rs 100 crore by promising flats in Mumbai's Wadala area and diverting the funds for personal use, officials said on Thursday.

The police's Economic Offences Wing (EOW) registered the case on Wednesday after the preliminary enquiry based on a complaint filed by 62-year-old Chartered Accountant Anil Dron, a resident of Kandivali in Mumbai, an official said.

The accused - real estate developer Subbaraman Anand Vilaynur, his wife Uma Subbaraman, B P Gangar Constructions and others - collected Rs 100 crore from 102 persons in the name of 'Sky 31' housing project in Wadala (West) since 2018, promising each a flat, he said, quoting the complaint.

After collecting money from the victims, the accused allegedly conspired to divert the funds to their personal and other bank accounts instead of using them for the housing project, the official said.

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