EOW Takes Over ₹100 Crore Powai Land Fraud Probe; 8 Booked
The Economic Offences Wing (EOW) has taken over the investigation into an alleged ₹100 crore property fraud in Mumbai's Powai area. Powai Police had registered a case against eight persons, including members of the Khandelwal family, private company directors and developers, for allegedly conspiring to fraudulently claim ownership of a 1.33-acre prime property and executing agreements based on false and fabricated documents.
According to the FIR, businessman Narottam Chittaranjan Sharma filed the complaint, stating his family has held rights over the larger 3-acre property since his grandfather acquired leasehold rights in 1948. The disputed land was subsequently purchased through registered documents in 1964 and transferred to Smit Properties Pvt. Ltd. in 2005.
The fraud surfaced when Master Clock and Watch Works Pvt. Ltd. allegedly represented itself as the owner of the disputed property and entered into a development agreement with Powai Vihar Developers Pvt. Ltd. in 2007, receiving ₹60 lakh and development rights.
