Mumbai: Developer Duped of Rs 30 Crore in Township Project Scam; Relatives of Bhai Thakur Booked

What began as a high-profile partnership to transform Vasai-Virar into a residential township has now unraveled into a major financial scam. The Economic Offences Wing (EOW) of Mumbai Police is investigating a case where a real estate developer was allegedly duped of ₹30 crore by members of the influential Viva Housing Pvt Ltd, including two close relatives of Vasai-Virar strongman Bhai Thakur.

According to the FIR, filed by Rohit Poddar of Poddar Developers, the scam revolved around a proposed joint venture project, Viva Housing Pvt Ltd, set up over a decade ago to facilitate large-scale township development. The accused, identified as Mehul Thakur alias Monty (director of Viva Group), his father Deepak Thakur, along with Vikas Vartak and Radhe Khanolkar, allegedly misused their control over the company to siphon funds.

Poddar alleges that the accused forged a board resolution to install Mehul Thakur as the company’s authorised signatory. Over time, relying on this structure and the promise of profitable real estate development, Poddar transferred ₹30 crore to the firm's accounts. But instead of purchasing land for the township, the funds were reportedly diverted to another firm linked to Mehul for personal gains.

The timeline of the alleged fraud spans from 2012 to as recently as June 2025 — raising questions about how such a long-running misuse of corporate structure went unchecked. Notably, Mehul Thakur had previously been arrested by the Enforcement Directorate in 2021 in a separate money laundering case linked to HDIL promoter Rakesh Wadhawan and was released on bail in 2023.

EOW officials said that not a single acre of land was purchased for the project despite the substantial inflow of funds. The agency is now examining financial records and communication trails to determine how the alleged misappropriation was concealed for so long.

This case has cast a spotlight on how business partnerships based on trust and reputation can turn into financial traps, especially when forged documents and shell transactions are used to give a semblance of legality.