He is the former president of the Maharashtra Chamber of Housing Industry (MCHI) — the apex body of builders here — but today, 19 flats, including retail space, in his Andheri (East) building are up for auction due to non-payment of loans. Hubtown Ltd (previously known as Ackruti City Ltd) owner, Vimal Shah needs to pay Rs 52 crore to the bank by September 6, or flats in his building Hubtown Sunmist will go under the hammer. In fact, in its auction notice, the bank has mentioned the builder can participate in the bidding too. While Shah feigned ignorance initially, he later claimed he had “settled things with the bank”.

Hubtown Sunmist in Andheri (East). Pic/Prabhanjan Dhanu