Mumbai builder booked for cheating investor of crores in Mira Road land deal | Mumbai News
MUMBAI: Mumbai-based builder Neeraj Vora, Director of Aiko Builders Pvt Ltd, was booked for allegedly cheating a Vasai-based construction businessman of crores in a real estate deal linked to a Mira Road land parcel. The Manikpur police on Monday registered an FIR against Vora for cheating and forgery. The complainant, Akash Gupta, alleged that in 2021, Vora approached him seeking funds to develop a 2-acre 25.75-guntha land at Mira Road, Thane, promising to allot 100,000 sq ft at the rate of Rs 2,970 per sq ft. Vora allegedly claimed ownership of the land and informed Gupta that a total investment of Rs 30 crore was required to develop the project. Based on this assurance, an MoU was executed on September 15, 2021. Between September 21 and September 29, 2021, Gupta transferred a total amount of Rs 2.75 crore to Vora through multiple RTGS transactions. The complainant stated that on September 30, 2021, Vora issued written acknowledgements, receipts, and transaction documents confirming receipt of the money. As security for the deal, Vora allegedly handed over 26 cheques amounting to approximately Rs 31 crore. The FIR further states that in January 2022, Vora informed Gupta that he entered into a joint development agreement with another builder for the same land but reassured him that the 100,000 sq ft promised under their agreement would be allotted only to him. Despite repeated follow-ups, Gupta alleged that Vora neither started development work nor handed over the promised land. On January 15, 2023, a fresh agreement was allegedly executed, under which Vora agreed either to allot the land as promised or to buy it back at a higher rate of Rs 5,841 per sq ft, assuring substantial returns. As per this arrangement, Vora was required to pay Rs 31.46 crore to Gupta. However, the complainant alleged that only Rs 1.30 crore was returned, leaving Rs 30.16 crore outstanding. Gupta further claimed that during this period, Vora transferred or dealt with the same land parcel in favour of others while retaining the money paid by him. Alleging that the funds were misappropriated for personal use and that the assurances were made with dishonest intent, Gupta approached Manikpur police and lodged a formal complaint. Police officials said the FIR was registered, and an investigation is underway to examine the bank transactions, agreements, land records, and the role of Aiko Builders Pvt Ltd.
