EOW files charge-sheet on industrialist Wadia complaint
MUMBAI: In a sensational case,
the Economic Offences Wing of Mumbai Police has filed a charge sheet against
well known builder Chandru Raheja along with his sons in a cheating case
involving a land development deal.
The Economic Offences wing of the
Police said they filed the case against Chandru Lachmandas Raheja, Neil Chandru
Raheja and Ravi Chandru Raheja in
connection with alleged cheating and breach of trust.
The facts of the case as listed
in the charge-sheet are: Mr. Nusli N. Wadia, the Administrator of “The Estate
and Effects of The Late Eduljee Framroze Dinshaw in India” executed Development
Agreement & Power of Attorney dated 02/01/1995 with Chandru Lachmandas
Raheja’s “Ivory Properties and Hotels Pvt. Ltd. for development of properties
under his possession.
As per the said Development
Agreement, the Administrator had handed over possession of land admeasuring
1,70,656 sq ft to the accused as Agent for development of the land.
The Accused were to construct
building called as Ivory Tower and give 12% of sale proceeds from the sale of
the building to the Administrator. Further, as per the Development Agreement,
the accused were to pay sum of Rs. 3.75 crores to the Administrator as minimum guarantee
during the year 1997 and sell the units to “third parties”.
The accused, however,
misrepresented that the administrator relinquished his rights over the land and
prepared 9 release deeds. Thereafter, during the year 2005-2006, the accused
constructed Hypercity Mall on the said land and did not disclose with malafide
intentions the same to the Administrator.
Thereafter, under a “conducting
agreement”, the accused gave the contract for running the Hypercity mall to
their own company – Hypercity Retail India Pvt. Ltd. for monthly rental of Rs.
45 lakhs thereby cheating the Administrator for a sum of Rs. 6,87,06,835.
Hence, the accused i.e. Chandru
Lachmandas Raheja, Neil Chandru Raheja and Ravi Chandru Raheja have been
charged for crimes conducted under sections 406, 409, 420, 120(B) of Indian
Penal Code, the charge sheet said.
