Mumbai: EOW Arrests Kamala Mills Owner for Fraud
ECONOMY & POLICY

Mumbai: EOW Arrests Kamala Mills Owner for Fraud

Mumbai Police's Economic Offences Wing (EOW) arrested Ramesh Govani, owner of Kamala Mills and a real estate developer, in a Rs 670.50 million fraud case. Govani, who is also a director of a private land development company, was accused of purchasing a project in Mumbai's Khardanda area but failing to pay the Rs 670.50 million consideration amount to the complainant. Despite repeated demands for payment, Govani allegedly ignored them, leading the complainant to approach the EOW and file a complaint.

Following the complaint, a case was registered against Govani under sections 409 (criminal breach of trust), 420 (cheating and dishonestly inducing delivery of property), and 34 of the Indian Penal Code. Govani was summoned for questioning at the EOW office, where he was subsequently arrested for his alleged involvement in the fraud case.

This is not the first time Govani has faced legal troubles. He had previously been arrested in connection with a devastating fire that occurred on December 29, 2017, at two rooftop pubs in the Kamala Mills compound in central Mumbai. The blaze resulted in the deaths of 14 people.

The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com

Mumbai Police's Economic Offences Wing (EOW) arrested Ramesh Govani, owner of Kamala Mills and a real estate developer, in a Rs 670.50 million fraud case. Govani, who is also a director of a private land development company, was accused of purchasing a project in Mumbai's Khardanda area but failing to pay the Rs 670.50 million consideration amount to the complainant. Despite repeated demands for payment, Govani allegedly ignored them, leading the complainant to approach the EOW and file a complaint. Following the complaint, a case was registered against Govani under sections 409 (criminal breach of trust), 420 (cheating and dishonestly inducing delivery of property), and 34 of the Indian Penal Code. Govani was summoned for questioning at the EOW office, where he was subsequently arrested for his alleged involvement in the fraud case. This is not the first time Govani has faced legal troubles. He had previously been arrested in connection with a devastating fire that occurred on December 29, 2017, at two rooftop pubs in the Kamala Mills compound in central Mumbai. The blaze resulted in the deaths of 14 people.

Next Story
Infrastructure Urban

Govt approves NPCIL-NTPC JV company ASHVINI to start nuclear power generation

The Government on September 11, 2024 accorded approval to the Anushakti Vidhyut Nigam Ltd. (ASHVINI), a Joint Venture (JV) of Nuclear Power Corporation of India Limited – NPCIL (51%) and NTPC Ltd. (49%) to build, own & operate nuclear power plants in India in accordance with provisions of the Atomic Energy Act. Additionally Govt. of India has approved transfer of Mahi Banswara Rajasthan Atomic Power Project (MBRAPP) 4x700 MWe based on indigenous PHWR technology, from NPCIL to the JV Company ASHVINI. The Govt has also approved exemption to NPCIL to invest more than Rs 5 billion and exemptio..

Next Story
Infrastructure Urban

CRC Group partners with Dubai’s Killa Design for luxury Noida project

Noida-based real estate developer CRC Group has teamed up with renowned Dubai architect Shaun Killa to design an ultra-luxury residential project in Greater Noida. Shaun Killa, known for iconic structures such as Dubai's Museum of the Future and the Bahrain World Trade Centre, brings his expertise in sustainability and innovation to the collaboration. Killa expressed excitement about the partnership, stating, "Our goal is to create a design that stands the test of time, respects the environment, and complements the culture of the region." The project, set to feature between 375 to 400 luxury u..

Next Story
Infrastructure Urban

Nexus Venture sells stake in India Shelter Finance for Rs 4.82 billion

Venture capital firm Nexus Venture Partners divested a 5.97% stake in India Shelter Finance Corporation for Rs 4.82 billion through open market transactions. India Shelter Finance, based in Gurugram, caters to first-time home loan buyers in Tier-II and Tier-III cities, focusing on the low- and middle-income segments. Nexus, via its affiliates Nexus Ventures III and Nexus Opportunity Fund II Ltd, sold 6.4 million shares in two bulk deals on the BSE, priced between Rs 752.35 and Rs 753.27 per share, resulting in a total deal value of Rs 4.81 billion. This transaction reduced Nexus' stake in the ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000