In yet another cheating case, Mumbai police’s Economic Offences Wing arrested Bollywood film producer Parag Sanghvi (49) on Monday. He was detained on charges of defrauding over ten crores in apartment purchasers.
A total of 15 clients who invested in a development project have yet to get their units or any reimbursements. According to investigators, Sanghvi, one of the company’s directors, spent part of the money for his own benefit.
From 2010 to 2013, Kamla Landmark Group’s Kamlaksmi Developers LLP firm partners Jitendra Jain, Jinendra Jain, and Ketan Shah allegedly took 3.90 crores from complainant Purshottam Bijlani for two flats at the company’s Kamla Iris project at Model Town, Seven Bungalow at Andheri (W). According to authorities, the project was really built by Kamla Shiv Developers, but the complaint was made in error.
In 2018, an offence was recorded at Versova police station after the complaint failed to acquire an apartment or a refund, and the inquiry was forwarded to EOW. During the inquiry, 15 individuals came forward claiming to have been duped in the same way, and Shah and Jain were eventually arrested in the case.
Sanghvi was a 50 percent partner in Kamla Shiv Developer and a 50 percent partner in Kamal Landmark Construction, according to the police.
Sanghvi, who left the firm in 2013, is accused of receiving 4.80 crores in the account Kamla Shiv Developer, which officials believe to be proceeded of crime. According to authorities, Sanghvi used some of the money to purchase a home.
Sanghvi’s attorneys, Adv Saurabh Ghagh and Divya Bhatia, maintained that their client had no part in the offence and that his name was also not there when the FIR was lodged when he was brought before the court on Monday.
Sanghvi was detained by the EOW last week in connection with a fraud case involving Rs 13.74 crore. Sanghvi is recognised for producing and funding films such as Partner, Bhoot Returns, and the 26/11 Attacks.