Police have booked two directors of a real estate development firm for allegedly cheating 16 people to the tune of Rs 47 lakh, an officer said Monday.
According to the complainants, they were neither given possession of the promised plots under a project in Shahapur in Thane district nor the amount deposited by them ever returned in the last nine years.
A case was registered against Madhukar Pawal and Santosh Padwal of VMC Developers under sections 418 (cheating with knowledge that wrongful loss may ensue to person whose interest offender is bound to protect) and 420 (cheating and dishonestly inducing delivery of property) of the Indian Penal Code (IPC), Thane Police PRO Sukhada Narkar said.
The complainants claimed that though they had paid for the purchase of the plots, they were never given possession of the said property since 2010.
“They claimed that the firm never returned them the amount deposited by them,” Narkar said.
No arrest has been made so far.
Officials of the firm could not be reached for comment.