Mumbai’s Financial Crimes Unit has registered a case against four directors of a real estate firm for defrauding a textile merchant of Rs 12 crore in the name of selling flats. Yusuf Saidi, a textile merchant from Mazagaon, came into contact with Manish Mutha, Vijay Sharma, Sharat Chhanjed, and Bhushan Jain, directors of Shanklesha Constructions, in 2015. They took Rs 15 crore from Saidi, saying that they would give 44 flats in the housing project undertaken in Shahad, Kalyan. They signed a memorandum for the same. However, only 10 flats worth around Rs. 3 crore were given, and the remaining 34 flats were sold to others. With this, Saidi, who lost Rs 12 crore, approached the police. In this regard, the police have registered cases against them.
