Mumbai Police Book Builder, Directors, Banks And Buyers In Alleged ₹42.96-Crore Chinchpokli Redevelopment
Mumbai police have filed an FIR against Siddhivinayak Construction Pvt. Ltd., its three directors, nine financial institutions, and 13 flat purchasers for alleged fraud of ₹42.96 crore in a Chinchpokli redevelopment project.
The developer allegedly sold 33 rehabilitation flats and 3 reserve units meant for tenants, and secured loans of ₹37.80 crore against those properties in collusion with financial institutions.
The complaint was filed by Pradeep Shivram Sawant, secretary of Shrimotanka Tenants Co-operative Housing Society, following a Bombay High Court direction via the Mazgaon Metropolitan Magistrate Court.
The project involves four buildings under DCR 33(7); though 139 of 144 eligible tenants received possession in 2017, the developer lacked an Occupation Certificate and failed to pay ₹2.80 crore transit rent (2014-2017) and ₹2.36 crore in municipal dues.
The FIR also claims double registrations for six flats and that the developer obtained FSI/TDR benefits worth ₹15 crore while attempting to sell TDR after municipal approval on September 24, 2025.
