60-year-old duped of ₹12.3 crore; father, son booked

Mumbai: A 60-year-old businessman from Andheri has filed a complaint with the Economic Offences Wing (EOW), Mumbai police after he was allegedly duped of 12.31 crore by a father-son duo from Santacruz.

The EOW has booked developers Gautam Ahuja and his father Jagdish Ahuja who allegedly duped businessman Anil Gehani by offering him 24% returns on the investment made in their real estate project. However, after accepting the investment the accused allegedly did not pay back the complainant.

Gehani is into property investment and knew the accused father son-duo since 2008.

As per the complaint, in 2010, Jagdish offered him 24% returns on his investment in his construction business. Gehani, who was also looking to buy a flat, trusted them and decided to invest, the EOW sources said.

Between 2010-16 Gehani invested 6.4 crores in Ahuja Properties and Associates. Initially, Ahujas paid interest to Gehani, however, later they defaulted in paying it, the source added.

As per the FIR, Ahujas re-paid 2 crores of the principal amount and also paid 1.69 crores towards interest to Gehani, as per the complainant, However, they did not pay 4.40 crore of the principal amount and promised interest on it – around 12.31 lakhs.

When Gehani followed up on the matter with Ahujas, they offered to give him a 144.5 square metre flat in a plush residential project in Worli. However, as they did not give any related documents of the flat to Gehani, he suspected their intention and kept on visiting their office demanding his money back, an EOW officer said.

Finally, in December 2019, Ahujas gave him a post-dated cheque for 4.60 crores, but the same was dishonoured, the officer added. Gehani then got to know that Ahujas had also similarly defrauded many others. He then approached the police.

A case has been registered and was transferred to the EOW for further probe. The father-son duo has been booked under sections 406 (criminal breach of trust), 409 (criminal breach of trust by public servant, banker, merchant or agent), 420 (cheating) and 34 (common intention) of the Indian Penal Code.