Mumbai: Builders in Malad Dupe Nine Investors of ₹8.30 Crore by Promising Flats, Case Registered

A fraud case has emerged in Malad where builders took Rs 8.30 crore from nine investors without delivering the promised flats in an under-construction building. The Malad police have registered a case against the partners of RKE Builders and Developers: Rajendra Singhvi, Madhu Singhvi, Kamlesh Khandor, Saurabh Kubadia, Pankaj Kubadia, Ramesh Gada, and Mukesh Nandu.

A 38-year-old gold trader residing in the S.V. Road area of Malad West was defrauded of Rs 80 lakhs. The police registered a case following his complaint. According to his complaint, builder Rajendra Singhvi and six other partners started constructing the Siddhashila building on Zakaria Road in Malad West and began selling apartments in the building.

The complainant and his brothers had booked a flat on the fifth floor of the building for Rs 1.15 crore, with the possession date set for December 31, 2016. They paid the builder Rs 80 lakh. However, construction of the building halted midway. The complainant later discovered that the builders had defrauded multiple people by taking money without delivering the flats. Subsequently, he filed a complaint at the Malad police station.

Nine people have lodged complaints at the Malad police station alleging fraud by builders, involving a total of Rs 8.30 crore. The police have registered a case based on the complaint of a gold trader in these matters.