Mumbai's Dhanista Builders gets ultimatum to deposit Rs 50 lakh
A sessions court on Tuesday gave an ultimatum to Devidas Rao, promoter of Dhanista Builders and Developers, to deposit Rs 25 lakh by today and another Rs 25 lakh by Monday, and warned that failure to deposit the money could result in the court vacating the interim protection from arrest. A group of 11 home buyers had lodged an FIR against Rao and four others at Vikroli Parksite police station on March 6 this year under IPC sections for cheating, and breach of trust under IPC and Section 4 of Maharashtra Ownership of Flats Act (MOFA) (not registering agreement for sale after accepting 20 per cent of flat cost). The FIR named Rao, his son Tejasvi Rao, daughters Nandita and Suparnika Rao, and an employee Bhavna Menon for allegedly duping buyers who booked flats in Dhanista Allure in Mulund, Dhanista Gardenia in Powai and Dhanista Sunshine in Ghatkopar. On March 9, Rao and others had moved the court of Additional Sessions Judge MM Umar who directed them to refund the principal sum of Rs 2.19 crore. The court extended the interim protection from time to time on the basis of developer’s assurances that he was arranging finances and would refund the buyers.
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