Mumbai builder alleges financial fraud of ₹360 crore; EOW begins investigation
Maharashtra: A major financial fraud case involving approximately ₹360 crore has come to light, with Mumbai-based Sujay Resort and Township Project Private Limited accusing Shore Dwelling Private Limited and its directors of fraud and criminal breach of trust.
Mumbai’s Economic Offences Wing (EOW) has initiated an investigation based on a complaint from Sujay Resort’s director, Arvind Narendra More. An FIR has been registered at the BKC police station.
Loan Allegedly Taken as a 15-Day ICD
According to the complaint, on August 11, 2023, Shore Dwelling Private Limited, allegedly linked to the Mantri Group, borrowed ₹360 crore from Sujay Resort and Township Project Private Limited as an inter-corporate deposit (ICD) for a period of 15 days at an annual interest rate of 8%. A formal ICD agreement was entered into between the two companies for common corporate purposes.
