Navrangpura Police arrests Builder for Cheating - Sambhav Infrastructure
Navrangpura police late on Wednesday evening arrested Mihir Desai, a builder and director of Sambhav Infrastructure Pvt Ltd, in a case of cheating lodged by a finance company on January 2, 2017.
According to police sources, the manager of India Infoline Housing Finance Ltd, Vinod Yadav, had lodged an FIR with Navrangpura police station alleging that Desai and his wife Toral had applied for a loan of Rs 2.85 crore against two offices located at Pinacle Complex in Vejalpur.
"According to the FIR, on approval and disbursement of the Rs 2.85 crore loan, Desai regularly paid the monthly installment of Rs 4.38 lakh for eight months and then suddenly stopped paying," said an investigator.
According to police sources, the FIR states that on verifying papers at the sub registrar office, the financiers learned that both the offices were mortgaged to another company and a provisional agreement of sale was made with one Kanji Patel for the offices. Navrangpura police inspector R V Desai said they arrested Mihir Desai for the offence late on Wednesday evening.
Read another news related to the Sambhav Infrastructure Pvt Ltd:
- Builder held for selling flat, then mortgaging it to Bank
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