EOW Books RRD Heights Directors Over Alleged ₹77.80 Crore Mulund SRA Project Fraud
The Mumbai Police's Economic Offences Wing (EOW) has registered a First Information Report (FIR) against RRD Heights & Builders Pvt. Ltd. and its three directors for allegedly cheating and causing a wrongful loss of ₹77.80 crore. The case arises from a dispute over a Slum Rehabilitation Authority (SRA) project located at Gawanpada, Nahur Village in Mulund (West).
The EOW registered the case following a complaint filed by Milind Dhanawade, the Senior General Manager (Land & Legal) and authorised representative of Nirmal Lifestyle Properties Pvt. Ltd. The FIR names RRD Heights & Builders Pvt. Ltd. alongside its three directors, Mehul Gosar, Piyush Gosar, and Deepak Gosar.
According to the complaint, the dispute stems from a series of Memorandums of Understanding (MoUs) executed between the two real estate firms in 2010, 2016, and 2018. Under the terms of the final agreement, RRD Heights & Builders was tasked with developing the SRA project in Mulund (West).
As part of the development deal, the accused builder was required to hand over rehabilitation flats, saleable flats, 39,659.54 square feet of carpet area, and an agreed cash consideration to Nirmal Lifestyle Properties.
However, the complainant alleged that the developers failed to honor the terms of the agreements. Specifically, the builder allegedly failed to allot 52 rehabilitation flats as promised. Additionally, the accused reportedly sold a flat reserved for Nirmal Lifestyle to a third party without authorization.
The complaint also highlighted discrepancies in the physical handovers, alleging that one of the delivered flats had 416 square feet less carpet area than the agreed-upon 2,600 square feet.
Financial defaults were also cited in the complaint. Out of the agreed cash consideration of ₹8.92 crore, RRD Heights & Builders reportedly paid only ₹3.70 crore, leaving an outstanding balance of approximately ₹5.22 crore unpaid.
Nirmal Lifestyle Properties claimed that these combined breaches resulted in a total wrongful loss of ₹77.80 crore. Following these allegations, the EOW registered the FIR under relevant sections of the law pertaining to cheating and criminal breach of trust. Further investigation into the matter is currently underway.
