Four Booked for Cheating Navi Mumbai Builder of Rs.66.75 Lakh in Land Deal

15 Jul 2024 CW Team

Legal action has been initiated against four individuals for allegedly cheating a Navi Mumbai builder of ?66.75 lakh in a land deal. The case highlights the risks associated with fraudulent transactions in the real estate sector, emphasizing the importance of due diligence and legal scrutiny.

According to reports, the accused individuals purportedly deceived the builder by misrepresenting facts related to the land transaction. The builder, expecting a legitimate property deal, incurred financial losses due to the fraudulent activities of the accused.

The incident underscores the need for vigilance and caution while engaging in real estate transactions, particularly concerning land deals involving substantial financial investments. Authorities are investigating the matter to ascertain the full extent of the fraud and hold the perpetrators accountable.

Cases of fraud and misrepresentation in real estate transactions can adversely affect stakeholders, leading to financial losses and legal complexities. It is imperative for both buyers and sellers to conduct thorough background checks, verify property ownership details, and seek legal advice to prevent falling victim to fraudulent practices.

The legal action against the accused reflects the authorities' commitment to upholding transparency and accountability in real estate dealings. It serves as a reminder of the regulatory measures in place to protect the interests of builders, investors, and homeowners in Navi Mumbai and beyond.

In conclusion, the booking of four individuals for cheating a Navi Mumbai builder of ?66.75 lakh in a land deal underscores the significance of integrity and diligence in real estate transactions. The incident highlights the need for stringent regulatory oversight and adherence to legal protocols to safeguard against fraudulent activities and promote trust in the real estate sector.

Infrastructure Urban

06 Nov 2025

Concord Control Systems Limited Reports ~85% YoY Growth in H1 FY26

Concord Control Systems Limited (BSE: CNCRD | 543619), India’s leading manufacturer of embedded electronic systems and critical electronic solutions, announced its unaudited financial results for the half year ended September 30, 2025.Financial Highlights – H1 FY26 (YoY Comparison)Revenue from Operations rose to ₹815.45 million, up from ₹497.53 million in H1 FY25, marking a 63.90% year-on-year growth.EBITDA increased to ₹217.34 million, compared to ₹142 million in the same period last year.EBITDA Margin stood at 26.65%, compared to 28.54% in H1 FY25, with the decline attributed to ..

Gateway Distriparks Announces Q2 FY25 Results

Gateway Distriparks Limited (GDL), one of India’s leading multimodal logistics providers, announced its financial results for the quarter ended 30 September 2025.For Q2, the company reported total revenue of INR 154.8 crore (H1: INR 316.9 crore), EBITDA of INR 20.56 crore (H1: INR 45.65 crore), PBT of INR –4.23 crore (H1: INR –0.28 crore), and PAT of INR –2.91 crore (H1: INR –0.37 crore). The company stated that these numbers reflect the consolidation of accounts following Snowman Logistics transitioning from an associate company to a subsidiary in December 2024.Commenting on the per..

Last-Mile Connectivity a Prime Focus, Says Ms. Ashwini Bhide,

The IMC Chamber of Commerce and Industry (IMC) hosted a high-impact Managing Committee session today on the theme “Mumbai Metro: Transforming Connectivity and Commuting.” The session featured an insightful address by Ms. Ashwini Bhide, Managing Director, Mumbai Metro Rail Corporation Ltd. (MMRCL), who shared updates on key transport infrastructure developments across Mumbai and the MMR region.Emphasising the city’s critical economic role, Ms. Bhide noted, “Mumbai is the economic powerhouse of Maharashtra, with more than 95% of the region’s population living in urban areas. As Maharas..