On a complaint filed by Dubai-based businessman Shadab Patel, the Khar police have registered the case against builder Amarchand Narang and his son Amit for cheating and criminal breach of trust.
Shadab said that the father and son duo approached his father Shabbir in 2014 seeking financial aid of Rs 50 lakh and agreed to keep their flat as security and offered to pay an additional interest of 21 per cent on the borrowed sum.
Shadab, however, got suspicious when they failed to repay the loan and asked Narang to transfer the flat kept as security. But the duo said that the title of the flat was not clear and hence it cannot be transferred. Later, Shadab learnt that the flat was already mortgated to the Tata Finance forcing him to approach the police.
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