February 4, 2017 4:37:18 am
The Mumbai Police have written to the Chief Metropolitan Magistrate (CMM) for executing a Kolkata court’s order to attach the South Mumbai residence-cum-office premises of city builder Pujit Aggarwal.
Last month, the 19th Metropolitan Magistrate of Kolkata had passed the order while hearing a cheque bouncing case filed against the builder by Kolkata-based Paradigm Finance Pvt Limited.The court had ordered the 9th and 10th floor of Angel apartment at Krishna Sanghi Marg in Gamdevi to be attached.
According to the complainant, in 2010, Paradigm Finance gave Rs 1.2 crore as Inter-Corporate Deposits (ICDs) to Orbit Corporation at an annual interest of 12 per cent. However, in March 2014, Orbit Corporation started defaulting on the interest, after which the Kolkata company approached a local court and filed a cheque-bouncing case.
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While the Mumbai Police received the Kolkata court’s order on January 9, it drew the panchnama of the premises last week. However, while attaching the property, the counsel and family members of Aggarwal intervened and brought to the notice of the Gamdevi police that the Kolkata court’s order had not not endorsed by the local court.
The Mumbai Police has subsequently approached the CMM.
When contacted, the spokesperson for Orbit Corporation said the company was considering legal recourse. “The company is taking appropriate legal steps to challenge the order”, the spokesperson told The Indian Express.
In September last year, the Mumbai Police had arrested Aggarwal for cheating and violation of the Maharashtra Ownership Flat Act, 1963 after several complaints by people who had invested in his housing project but had not received possession of their flats.
Later in the same month, the Economic Offence Wing (EOW) arrested Aggarwal for investigation related to an FIR filed in April 2016 by Capri Global Advisory Services. According to the FIR, Capri had invested over Rs 52 crore in two Orbit projects — Orbit Terraces and Orbit Haven. After these projects failed to take off, Aggarwal allegedly requested Capri to convert the transactions into debt and mortgaged a property claiming to be his which later turned out to be occupied by someone else, and a commercial premise that turned out to be a parking space.
However, sources claim that Capri Global and Orbit Corporation are in talks to settle the case. This would be a major blow to the EOW, which is investigating the alleged irregularities committed by Aggarwal and has recently field a chargesheet in the case.
A senior official from the EOW said they had learnt about the negotiations but were yet to be intimated by either of the parties or the court. “We have already chargesheeted the accused and the court will take the decision on whether the case should be quashed,” said the official.
Confirming the development, Ravi Aggarwal, Pujit’s father, told The Indian Express, “It is true that the parties are negotiating to reach an amicable settlement but I cannot disclose much.”
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