MUMBAI : The Economic Offences Wing of city police arrested a Kolhapur-based developer who connived with other accused and under pretext of redeveloping a old building consisting of 13 flats in Versova in Andheri allegedly mortgaged and sold flats allotted to society members without their consent, using forged agreements and documents to obtain bank loans and cheated them of Rs 55 crores.The Housing unit of EOW arrested Amrut Uttam Mahendrakar (34) , a resident of Ichalkaranji in Kolhapur district who is accused of assisting in preparing forged documents and facilitating the fraudulent sale and mortgage of flats.In August last year police had arrested Amarjit Shukla, owner of Mid City Heights.Mahendrakar is the second accused arrested in the case.The case was registered at Versova police station based on a complaint by Meena Singh Thilon (71), associated with Zakaria Aghadi Nagar No.3 Co-operative Housing Society. The society had appointed Midcity Heights Partnership Firm in 2015 for redevelopment of its building.The company had assured 13 residents, who collectively owned 14 flats, that they would receive their new homes within a specified time frame.However, during the course of the project, the complainant and other members allegedly discovered that several flats allotted to society members under the Permanent Alternate Accommodation Agreement (PAAA) were mortgaged to financial institutions and also sold to third parties without their consent.Police said that investigations revealed that Amarjit Shukla and his associates allegedly created forged documents and agreements for sale, pledged flats to multiple banks and obtained loans running into crores of rupees.Investigators suspect that fake agreements for sale, forged signatures of the Joint Deputy Registrar and counterfeit stamps were used in the documentation process.However, during the course of the project, the complainant and other members allegedly discovered that several flats allotted to society members under the Permanent Alternate Accommodation Agreement (PAAA) were mortgaged to financial institutions and also sold to third parties without their consent.
