Two builders of property developer Nirmal Lifestyle have been arrested by the Mumbai Police. Dharmesh Jain and Rajeev Jain of the property developer allegedly duped homebuyers of Rs 11.30 crore, sources said.
The two were arrested by the Economic Offences Wing (EOW) of the Mumbai Police.
They were taken to a local court, which sent them to police custody till May 3.
Thirty-four people have alleged that the two took huge sums of money from them for booking flats, but did not give them the flats.
The police, quoting the complaint, said the buyers paid the company in 2011 for flats it had promised to deliver by 2017. But that did not happen, according to the police complaint.
The complaint was filed with the police in Mumbai's Mulund. The case was later transferred to the EOW since the amount involved in the alleged fraud ran into crores, the police said.
Nirmal Lifestyle on its website says it has been instrumental in promoting Mumbai's Mulund as a preferred destination for both residential and commercial spaces.
