BUILDER BROS BOOKED FOR 16-CRORE FRAUD
In an alleged construction scam in the city, the managing directors of renowned ARV Group, Rahul and Akash Goyal, have been booked by the police in a cheating case of Rs.15.80 crore.
At the behest of the court of the Judicial Magistrate First Class, the Kondhwa police registered an FIR under the legislation, and also for cheating and criminal conspiracy against the Goyal brothers.
Kunal Masal (33), a resident of Pisoli, and who is into flex and hoarding printing business, had filed a complaint informing the court that he has 16.90 guntha land in Pisoli, which is owned by him and his family.
In 2013, the Goyal brothers approached the Masal family and asked for their land for developing a construction scheme. In December 2013, Masal and the Goyals entered into an agreement and after registering the contract with the sub-registrar office, the latter took possession of Masal’s land.
Masal alleged in his complaint that the Goyals promised to give his family 38 per cent gross sales proceedings in consideration of the development right. Further, the selling rate of the developed property was decided at Rs. 4,000 per sq. ft. The contract also mentioned that the developers will get 62 per cent revenue sharing which was decided mutually by both parties to the contract. The Goyals had given Rs. 18 lakh as a deposit to Masal whereas Masal had paid. Rs.16,36,280 for FSI purposes. The project was supposed to complete in 60 months; however, extra 12 months were given by mutual consent of both parties.
Masal further alleged in his complaint that it was decided that there would be a joint bank account in which the Goyal brothers were supposed to deposit the 38 per cent profit after selling the developed property. However, the realtors did not open the joint bank account and allegedly transferred the profit to their bank accounts. Speaking to Mirror, Masal said, “The Goyal brothers took a loan of Rs. 6 crore by mortgaging the land and started the construction. When we used to meet Rahul and Akash to ask about the bank account, they would avoid us. Then we visited their office, and the staff expelled us. It was mandatory for the realtors to give the details of three months’ sales and profit. However, the Goyals did not share any details with us. They used to lie to us by saying that no booking or sale was done.”
“We waited till June 2022, but they did not give us any returns. When I checked all the details about the project, I was shocked to know that the Goyal brothers transferred all the profit amount to their bank account. They sold properties and misappropriated crores of rupees. We were threatened by the accused when we filed a police complaint against them,” Masal added.
After the Economic Offenses Wing (EOW) refused to register the case citing reasons of civil matter, Masal filed a private com- plaint in the JMFC court through his advocate Tosif Shaikh.
Speaking to Mirror, advocate Shaikh said, “The case clearly shows the intention of cheating. The fraud amount is over Rs 100 crore, as the accused have sold the flats for more than Rs. 5000 per sq. ft. Earlier, in 2018, a Mumbai-based builder filed a complaint against the Goyals. There is one more case registered against the accused and their relatives. The record shows that the accused are habitual offenders and they grab property of farmers and landowners and cheat them by not giving them their lawful share.”
The realtors were earlier pinned by a Mumbai-based developer in 2018 for fraudu- lently withholding possession of 48 flats.
Judicial magistrate first class CN Ondare directed the Kondhwa police to file the FIR under Sections 406, directed to follow the guidelines of the Supreme Court judgment on Arnesh Kumar Vs. State of Bihar.
When Mirror contacted Akash Goyal through call, text, and WhatsApp messages, he did not reply till the printing of the news.