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600 Homebuyers Unite to Oppose Builder’s Plea to Quash FIRs, Real Estate News, ET RealEstate

600 Homebuyers Unite to Oppose Builder's Plea to Quash FIRs, Real Estate News, ET RealEstate


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MUMBAI: A group of over 600 homebuyers who say they have been cheated by builder Lalit Tekchandani have formed a group with activist Anjali Damania to file an intervention application in the Bombay high court opposing his plea to quash the FIRs registered against him.

Tekchandani, who is currently in judicial custody, was arrested by the police for duping the public by collecting money for flats in his project in Taloja.

The ED, based on this FIR, registered a case of money laundering and attached some of his assets.

The builder recently moved the high court seeking quashing of the several FIRs filed against him.

The court will hear the case on Monday. In response, the homebuyers, along with Damania, plan to file an intervention application opposing his plea.

The group recently held a meeting in Ghatkopar to discuss the plan of action. Participants provided the Economic Offences Wing (EOW) with relevant documents and plan to approach the Enforcement Directorate (ED) to ensure that Tekchandani’s complete assets are seized to protect homebuyers’ investments.

Damania said the group decided to oppose Tekchandani’s plea as it had gathered evidence of his diverting funds to 18 other companies and shared it with EOW.

She said they would provide the information to ED too. She said their aim was to protect the interest of the homebuyers by attaching these properties .

One of the complainants, Kanchan Sharma, said she was promised a flat in Taloja in 2013, but never received possession. Despite continuously paying dues, she and her family are still awaiting their flat. Sharma, who lost her husband three years ago, said all of them are determined to fight for their rights.

“We have been living on rent since 2013. There is no hope of getting the flat nor the money we paid. We are exploring all avenues to get our money back,” she said.

The ED is currently investigating Tekchandani based on two FIRs filed by the Taloja and Chembur police stations.

As part of the investigation, assets, investments, and bank balances totalling Rs 43 crore have been seized.

It is alleged that Tekchandani and others collected over Rs 400 crore from more than 1,700 prospective buyers for a housing project in Taloja, which has been delayed, leaving buyers without a flat or refund.

  • Published On Feb 22, 2024 at 09:08 AM IST

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