26 April,2026 04:09 PM IST | Mumbai | Aishwarya Iyer
Premji Velji Patel (L) and Keshav Damji Minat (R)
Navghar police have arrested two builders for allegedly cheating their business partner and siphoning off over Rs 2.55 crore in a redevelopment project in Mulund East.
The accused, identified as Kamlesh alias Keshav Damji Minat (51) and Premji Velji Patel (53), have been arrested and remanded to judicial custody.
According to the police, the complainant, a Navi Mumbai-based builder, had formed Amardeep Construction Company in 2011 along with the accused and another partner. In 2014, the firm undertook a project in Mulund East, where the initially equal partnership was later altered under pressure, giving the accused a larger share.
Police said that between August 30, 2018, and December 29, 2020, the accused allegedly sold three flats to a family. While the total deal value was Rs 2.55 crore, only Rs 31.32 lakh was deposited into the company's account. The remaining amount was allegedly collected in cash and misappropriated without the knowledge or consent of the other partners.
Investigators said key documents, including agreements, payment receipts, and possession letters, were not entered into the company's official records, indicating deliberate concealment.
The fraud came to light in November 2025 after a site supervisor reported that unknown persons had entered the flats without authorisation, prompting police intervention.
Based on a complaint filed on February 9, 2026, Navghar police registered an FIR under Sections 406 and 34 of the BNS. Police said the role of another individual mentioned in the complaint is also being probed.
Both accused were produced before a local court and remanded to judicial custody. Further investigation is underway.
