Mumbai’s Economic Offences Wing (EOW) has initiated action against R A Associates, a real estate developer, and its directors, Rajendra Kothari and Sushil Kothari, following accusations of fraudulently selling a single property twice. This alleged scheme has reportedly led to a financial detriment exceeding Rs 6 crore for Pawan Arya, a 71-year-old businessman.
The case stems from a complaint filed by Pawan Arya, residing in Nepean Sea Road. Arya, along with his family, had initially secured a flat in Dadar back in 2014. On July 18, 2014, Arya Ship Industries, the family’s enterprise, finalized a registered purchase agreement with R A Associates for Flat No. B/3101 in R A Residency, located in Dadar (East).
According to Arya’s account, an initial payment of Rs 5.47 crore was made to R A Associates, with the remaining balance of Rs 60.80 lakh settled between October and November 2022. After enduring multiple delays in receiving possession, the flat was eventually handed over on June 14, 2023. Arya’s company subsequently completed the necessary registrations for electricity and property taxes in its name and received written confirmation from the builder.
However, the family’s relief was short-lived. They later discovered, to their dismay, that the same flat had been previously sold to a different party without the knowledge or consent of Arya Ship Industries. Records obtained from the Sub-Registrar’s portal confirmed that the flat had been registered on July 13, 2022, under the names of Navinchand Devraj Dedhia, Forum Rajiv Dedhia, and Rajiv Navinchand Dedhia.
Arya contends that Sushil Kothari and Rajendra Kothari, partners at R A Associates, fabricated details concerning the cancellation of the original 2014 agreement in the subsequent sale deed, despite no actual cancellation ever taking place. The 2022 document notably lacks any appended agreement of cancellation, thereby raising significant questions about the legitimacy of the second transaction.
Furthermore, a notarised affidavit, executed after the second sale, reportedly shows Sushil and Rajendra Kothari acknowledging that they proceeded with the second transaction due to financial pressure, citing losses incurred during the Covid-19 lockdown. Arya’s complaint states that while they pledged to resolve the issue, they failed to take any concrete steps.
“This deceptive action has not only resulted in a direct monetary loss of Rs 6.08 crore for Arya Ship Industries but has also left Arya in a legally precarious position, as he possesses a flat officially registered to another entity,” stated Arya in his deposition.
Pawan Arya’s initial complaint was lodged with the Matunga police station, from where it was transferred to the EOW for further investigation. An EOW official confirmed, “We have registered a case against the Kotharis, and they will now be summoned to provide an explanation for conducting a second sale when the property had already been sold to Arya.” The developers face charges under various BNS sections related to cheating, forgery, and breach of trust.
