Navi Mumbai realty firm director held for cheating

A Navi Mumbai-based Reality film director was arrested by Turbhe MIDC police realtor on a complaint by a property investor Ketan Chugh. He has alleged the directors and partners of three realty firms indulged in cheating and fraud to seize a plot at Nerul which he bought in 2008.

The FIR was registered on October 17 however Suresh Jain, the director of Metro Developers, was arrested on October 19. Other suspects are absconding, including one Shakuntala Kulkarni, who claimed to be the beneficiary of the deceased landowner Maya Kaikani.

Referring to the previous FIR which was filed in 2004, CIDCO allotted 3,680 sqm plot in Nerul, to Kaikani. It changed hands twice and Chugh bought it for Rs 14.73 crore and made part payment of Rs 25 lakh.

As he was waiting for CIDCO’s approval, in 2015 he got to know that Metro Developers was selling flats in a tower on the plot. He learned Kulkarni entered a deal with CIDCO and the plot changed hands thrice, ending with Metro in 2015.

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